Larger providers target SMSFs
Self-managed super fund (SMSF) administration is set to see a dramatic shift as large technology providers look to tap into one of the industry's largest investment engines, according to Synchronised Software managing director Rory Wainer.
"When it comes to administration, some of the fundamental engineering of quality large scale solutions applies across the whole industry," he said. "Whether you're doing industry super or public sector or retail, the large scale policy engineering is critical.
"However, it's the delivery mechanism between those points that is entirely different."
Wainer said that SMSF delivery mechanisms were largely dictated by the wide variety of intermediaries at play within the sector, all focused on managing funds.
"So we have advisers and we have accountants and they actually do the management for us," he said. "What we really have is actually a self-managed investment model; I can buy my own shares and I can do this, but I'm not actually managing it myself.
"Yet if you can harness the $100 million investment from those big technology engines and provide an interface for somebody to really manage their own super, you will then have the next generation of self-managed super," Wainer said.
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