The financial technology platform, called Selfmade, was developed by former Macquarie investment banker Robin Huender and MoneyMe Financial Group chief executive Clayton Howes.
Selfmade is an online platform allowing users to establish and monitor the performance of their SMSF while admin and tax returns are taken care of in the background.
“Selfmade has built its platform with integrations to Class and Macquarie. The platform targets SMSF trustees and members that might otherwise be handled by less tech-enabled accountants and administrators,” said the fintech firm.
The fintech firm has already made a number of acquisitions including former DBA senior associate David Oon, former NAB senior technical specialist Paul MacTier and Brielie-Jean Hudson, a former associate director at international communications and media firm PHD.
This launch comes as research house Investment Trends recently found new SMSF investors are increasingly turning to online providers for their administration services, away from the traditional preference of accountants.
Accountants must be getting very nervous now. That a computer program and integrated bank feeds totally supplants their skills and knowledge. Will the TPB confer Registered Tax Agent Status on a computer program? From trusted advisor to redundant in the flick of a computer switch! Hopefully people will recognise that many SMSF’s actually like to deal with people. The crux of the problem is the legislative nightmare dumped on SMSF’s which now necessitate online-real-time reporting for most SMSF funds. Thank-you government for moving the Trusted Advisors to the back-bench. Malcolm, Tony, Julie, make room for us please?
While the TPB do not confer tax agent status on a program Selfmade Super Financial Services Pty Ltd are required to be registered as a tax agent if they are offering tax return preparation services.
A quick search of the TPB register indicates that this company is not currently registered as a Tax Agent. Lets assume that this registration is underway.