CBA said the SMSF portfolio feature it has developed will enable trustees to have a complete view of assets and liabilities and it provides a single access point for both NetBank and CommSec.
The bank said the new online administration service will support SMSFs with all compliance, management and reporting requirements.
Commonwealth Bank head of SMSF customers Marcus Evans said the new offering provides a single view portal, giving trustees both more control over their investments and the ability to make better informed decisions.
“We can now provide all customers with a clear snapshot of their SMSF position, and support all their administration requirements online,” Mr Evans said.
The bank has partnered with SMSF administrator SuperIQ to establish and set up the administration service.
As well as providing an overview of the fund’s assets, CBA said the administration service will also enable trustees to set up an SMSF or transfer their current SMSF, ensure their SMSF is compliant with ongoing administration support, consolidate all online documents and reports and manage tax, accounting and auditing requirements.
The administration service also offers actuarial certification and trust deed amendment, CBA said.
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Banks doing your superannuation fund administration!
I thought everyone wanted to get out of the banks public offer funds and set up their SMSF’s – if we go back to the bank to administer our funds – why leave in the first place – most public offer funds offer some sort of control as to investments…
Is the game changing – or did i miss something…