PwC outlines major SMSF growth plans
PwC has plans to increase its profile as a “major participant and service provider” within the SMSF sector, according to one of its newest directors.
In November last year, PwC announced Liz Westover as the new director of its Private Clients’ SMSF practice. Ms Westover joined from Chartered Accountants Australia and New Zealand, where she was head of superannuation for six years.
At the time, PwC flagged intentions to bolster the firm's investment in the SMSF space.
Speaking to SMSF Adviser, Ms Westover confirmed she plans to up the profile of PwC in the SMSF and broader superannuation space.
“Part of the role is to increase the profile of PwC as a major participant and service provider with SMSFs,” she said.
“And in working with the other offices, I’ll be looking at the synergies and the efficiencies of our service offering nationally."
Ms Westover said her role will include expanding PwC’s “specialist” superannuation and SMSF service offerings.
“What I mean by that is providing consulting services, potentially to not only trustees but potentially [to] other accounting practices,” she said.
“So some of the small to medium-sized practices that might be challenged by a more complex issue, we can help them out on providing consulting services on that particular issue.
“Not all… small businesses necessarily have the superannuation expertise in house. They might be able to offer a compliance or tax service but sometimes, as you can appreciate, the issues can get a bit difficult, so we’re available to them for some assistance.”
Ms Westover is also keen to ensure PwC’s profile as a service provider in the APRA-regulated superannuation space, as well as with SMSFs, is well known and understood.
“Obviously we do have those service offerings but we want to be known for it,” she said.
“I want to make sure that people are aware of exactly what PwC does and increasing our profile accordingly,” she said.