SuperIQ eyes further acquisitions
After recently acquiring Super Concepts, SuperIQ has confirmed its intention to continue growing the company's administration footprint through further acquisitions.
SuperIQ is in the process of discussing several potential acquisitions, chief executive Andrew Bloore told SMSF Adviser.
“Part of our strategy is to [acquire] businesses and to grow our book through acquisition as well as through organic growth,” Mr Bloore said.
The acquisition of Super Concepts, he added, was a “scale play” for SuperIQ.
“It’s one thing to set out the best administrator, but it’s another to be able to say ‘How can we deliver this with sufficiency and scale?'
“Part of this is looking at the market and who the other players are in the market. Super Concepts was the logical one because it has significant relationships with a range of different accounting firms and intermediaries that we can provide our tools and services to,” he said.
“One of the hardest things to find in our industry is people, and certainly trained, qualified people in the SMSF space. So this allows us to utilise the people resources that the business has, and then make other acquisitions and grow our book.”
SuperIQ has no intention of changing the Super Concepts brand or the relationship that Super Concept has with One Path advisers, Mr Bloore added.