Following last week’s announcement of its plan to launch a digital SMSF, ANZ has confirmed its intention to further develop the group's advice and administration capabilities within the SMSF space.
Speaking to SMSF Adviser, ANZ chief executive for global wealth, Joyce Phillips, said ANZ is looking to cement its position in the SMSF sector and increase adviser numbers.
“We’ll be developing… the advice arm. We are looking [at] how we could really transform advice as well,” Ms Phillips said.
“We really are looking to take a different approach than others have in the industry and we’re piloting a lot of technology and a lot of tools,” she added.
Ms Phillips said ANZ is targeting a broad range of clients with its SMSF initiatives, not necessarily SMSF clients with higher account balances.
“I don’t believe that [an] SMSF is really for everyone and that everyone has the time to really look at that and manage that appropriately,” she added.
Ms Phillips estimates ANZ currently has 100,000 clients already in the SMSF space, including through its online etrade platform.
“We service SMSFs through various platforms that we have today… it’s really leveraging the position we already have,” Ms Phillips said.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 26 Sep 2017ATO set to add new items to SMSF watch listBy Katarina Taurian
- 26 Sep 2017ATO tipped to scrutinise property development and unit trustsBy Jotham Lian
- 26 Sep 2017Statistics reveal full impact of events-based reportingBy Staff Reporter
- 26 Sep 2017Tax advice exemption discrepancy driving away accountantsBy Jotham Lian
- 26 Sep 2017Consultant flags strategies to negate complex ECPI calculationsBy Miranda Brownlee
- 25 Sep 2017Survey results point to major concerns with new reportingBy Miranda Brownlee
- view all
- ATO tipped to scrutinise property development and unit trusts
One big four accounting firm says the ATO has started to zoom in on property development in unit trusts being held in SMSFs and the calculat...read more
- Statistics reveal full impact of events-based reporting
Analysis conducted by SMSF software provider BGL Corporate Solutions has indicated that around 290,000 SMSFs will be affected by the events-...read more
- Tax advice exemption discrepancy driving away accountants
A discrepancy in ASIC’s treatment of licensed and unlicensed accountants in relation to the tax advice exemption instrument is driving acc...read more
- view all