Macquarie – SMSF Adviser’s 2023 Global Equities Fund of the Year, Australian Equity Fund Manager of the Year, and Cash and Term Deposit Provider of the Year

Q. Can you tell us about Macquarie and its history in the SMSF space?

Macquarie has been a leader in the cash management space for more than 40 years. We work with SMSF trustees, advisers, stockbrokers and SMSF administrators, and we offer a suite of cash management solutions that have been purpose built with both the adviser and their clients front of mind.

Our SMSF bank account, the Macquarie Cash Management Account (CMA), is designed to be the centre of each client’s wealth ecosystem. It connects seamlessly with more than 45 other platforms, including Macquarie’s term deposits and our linked high interest savings account, the Macquarie Cash Management Accelerator Account.

In addition to our cash management capability, we also offer a wrap platform, managed accounts, business lending and more; and we have a national team of experts to work with your firm and help you both meet the needs of your clients, but also to help your business thrive and grow.

Q. How has Macquarie’s SMSF service proposition evolved over time?

As a leader in the cash management space, we’re continually investing in our cash management capability:

• Advisers can access our adviser portal, Adviser Online, to manage clients’ accounts and transact on their behalf, with their permission.
• Clients can view their accounts using our award-winning mobile banking app.
• We also offer access to a high-interest savings account linked to the CMA – our Cash Management Accelerator Account.

As part of our commitment to security and fraud prevention, the Macquarie Authenticator app is our stand-alone mobile multi-factor authentication app, which is a more secure method than SMS verification. It allows advisers to send their clients push notifications to verify and approve transactions and account changes.

For many SMSF trustees, their superannuation is one of their biggest investments, and we take the security of that investment very seriously. Macquarie Authenticator makes transaction approvals easier for advisers, and more visible and secure for clients – while protecting both the adviser and their clients against fraud.

Q. What are the key differences between servicing SMSF clients and the broader investment market?

There’s probably two key things to highlight here:

• Cash flow management is the lifeblood of an SMSF. You’re going to need your SMSF bank account for the full lifecycle of your fund – to accept member contributions and transfer your previous super balance, to receive investment income (like dividends) and to pay expenses such as tax or insurance premiums. You need cash available to make investments and then depending on your strategy you’ll receive distributions as cash too. Then when you retire, you’ll need to start drawing cash out as your pension. So for an SMSF, the SMSF bank account you choose really matters.
  
  
• Superannuation is often the largest investment an Australian will have – so it needs to be secure. We know that the decisions that an SMSF trustee makes need to protect the funds within the SMSF and provide financial security for the fund’s members into the future. Sure, on one hand that’s about the investment decisions you make – but it’s also about what you put in place to protect the funds from scammers.

Q. How does Macquarie differentiate itself? What has underpinned Macquarie’s recent success?

Our CMA is purpose-built for both advisers and their clients. We offer easy online applications, instant visibility for advisers of their clients’ balances through our adviser portal, and additional capability like adviser-initiated payments. We also integrate with more than 45 other accounting and investment management platforms.

Accountants and advisers need to be able to view, reconcile and audit SMSF transactions easily, and integration into their own software makes that easier. It’s about efficiency – how can advisers and accountants have visibility and control, and how can that visibility integrate into their everyday systems?

We also offer access to a high-interest savings account, the Macquarie Cash Management Accelerator Account, linked to the CMA. Clients can access a higher rate on their at-call cash, while making sure they still have funds available for investment opportunities that arise.

Q. What are some of the key metrics or performance indicators attesting to Macquarie’s success in recent years?

What’s most important to us is the satisfaction of the advisers and clients who use our account. Our Cash Management Account (CMA) is the chosen cash hub for close to one in three SMSFs¹ in Australia, and we’re both proud and grateful to have been awarded best cash and term deposits by the SMSF Adviser SMSF Awards for seven years³ – and we’d like to say a big thank you to all the advisers and trustees who voted for us.

Q. Why should SMSF trustees partner with Macquarie?

SMSF trustees may like to consider Macquarie’s Cash Management Account and receive:

• Easy online account opening and an award-winning mobile app
• Competitive interest rates and no account keeping fees²
• Integration with over 45 accounting and financial advice platforms to give your adviser or accountant the ability to report on your SMSF and transact on your behalf with permission
• Seamless connectivity to Macquarie’s high-interest Accelerator account and term deposits
• 10 years of statements at your fingertips, and the ability to categorise and search your transactions easily
• Industry-leading digital security with Macquarie Authenticator, a stand-alone mobile authentication app that makes authorisations seamless and secure.

Trustees can also explore other Macquarie offerings, including term deposits, managed funds or ETFs, depending on the investment strategy of the SMSF.

Q. How did it feel to be recognised as a leading SMSF services provider at the 2023 SMSF Awards?

We’re really proud and excited to win this award, knowing that SMSF trustees, advisers and accountants voted for us. It’s a real validation that our products and our capability is resonating well in market.

We’ve been working hard and investing to ensure our cash ecosystem has competitive rates, no account-keeping fees, easy online applications, innovative functionality and smooth integration with an adviser’s existing business systems. Our aim at Macquarie is to offer advisers and accountants seamless visibility over clients’ accounts, so that they have more time to focus on what’s important – their clients.

Q. Looking ahead, how does Macquarie plan to continue delivering for advisers and clients with our SMSF offering?

We’re always investing to continue to improve our digital experience and capabilities so that trustees, advisers and accountants can access the solutions they need to get ahead.

_{This information is not intended to replace or serve as a substitute for any accounting, tax or other professional advice, consultation or service and nothing in this article shall be construed as a solicitation to buy or sell any financial product, or to engage in or refrain from engaging in any transaction.}

_{The Macquarie Cash Management Account (CMA), Macquarie Cash Management Accelerator Account (Accelerator) and Macquarie Term Deposits are issued by MBL.}

_{¹Source: Macquarie Bank Limited data, ATO Self-managed Super Fund Statistical Report.
²Early break fees apply to term deposits.
³Award from 2016 to 2021, and 2023.}