AWM launches online SMSF solution

Australian Wealth Management business AET Super Solutions has launched an online self-managed superannuation fund (SMSF) establishment and administration solution.

Scheduled to be officially launched at the SPAA conference in Brisbane today, ‘BOB’ is officially described as a “complete online SMSF solution for advisers and accountants”.

AWM general manager of distribution and product Ashley Boland said BOB tackles the inherent difficulties of multiple service providers head-on by supplying trustee, member and fund data via one portal.

“When developing our SMSF solution, we wanted to make the process as simple as possible without compromising adviser and client control.”

Once established, BOB enables advisers and clients to continue to operate with their preferred stockbroker or other investment providers, Boland said.

BOB has also been designed to create more efficiencies for the adviser in order to free up their time so they can get on with their business, he said.

“Advisers have told us the amount of time and resources required to run a client’s SMSF is onerous and unprofitable for the time they spend on them.”

To establish a SMSF, he said, advisers enter the required information online and BOB will deliver an establishment kit complete with all the relevant documents pre-populated for the adviser and client to sign.

BOB also takes care of all administration services, including liaising with the Australian Taxation Office, state revenue office, bank, accountant and auditor on behalf of the trustee.