Cloud-based app to simplify SMSF administration

Wealth administration group Wealthtrac has released a wrap-style mobile app which allows users to set up a self-managed superannuation fund (SMSF).

The cloud-based app combines news, SMSF education and administration to guide investment choices, for a fee of $140 a month.

"The ease of administration and level of reporting provides significant time savings for the accountants, advisers and trustees who use it," Wealthtrac managing director and CEO, Matthew Johnson, said.

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"We believe what will set qualified advisers apart from the spruikers is education and the ability to deliver advice on complex areas such as estate planning, contribution caps, related party transactions and other trustee responsibilities," he added.

"Excellence and ease in administration tools will underpin this success, but it is the advisers themselves that will make the real difference."

The app offers instant tax reporting, compliance breach alerts and wrap-style reporting tools.

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