BGL has found some interesting SMSF industry trends in our 200+ million Simple Fund 360 transactions.
“The data really tells us what is going on in the SMSF industry” said BGL Managing Director, Ron Lesh.
The Simple Fund 360 data showed us some interesting trends.
- A number of new smaller SMSF administrators with between 10-25 funds have entered the market. These firms previously either outsourced their SMSF work overseas or did not do SMSF work at all.
- Our larger clients are growing quickly and as they add more funds to Simple Fund 360 they are not seeing the need to increase staff levels. Clients with over 500 funds who have moved to Simple Fund 360 are telling us they now employ significantly less staff per fund and that they can easily handle more funds – without increasing staff levels. Our client with 500 + funds firms no longer have a pain point.
- SMSF rates of returns are tracking well above the ASX 200. SelfWealth data on BGL client funds tells us our clients are generally investing well and are obtaining a superior rate of return.
“Firms all tell us the automation Simple Fund 360 provides makes all this possible” says Lesh. “There is no doubt the investment BGL has made in smart data feeds and industry leading data matching, the reconciliations to the registries, the smart corporate actions and big data views are making SMSF administration easier than ever before. And now that our client’s clients are logging into their SMSF software, they are able to make better investment decisions leading to superior returns”.
“There has been a lot said recently in the media about outsourcing and offshoring of SMSF administration work which did not make sense to us, so we thought we would share some of our data driven insights on this with the market” noted Lesh. “We expect these trends will continue our clients find better ways to scale and optimise their business with our software”.
Simple Fund 360 is now the preferred SMSF administration solution for almost 2,900 SMSF administrators representing over 160,000 SMSFs.