Class hits 100,000 billable SMSF portfolios
Cloud accounting software provider Class has announced it now holds more than 100,000 billable portfolios following a busy start to the year.
As of 29 February, Class had a total of 100,025 billable portfolios on its system, an increase of 3,388 portfolios since 31 December 2015.
Of the 100,025 billable portfolios, 98,515 are SMSFs, with the remaining 1,510 being other non-SMSF investments administered on the new Class portfolio product.
“This brings Class’s shares of the overall SMSF market to over 17 per cent and the total number of customers to 865,” the company said.
Class chief executive Kevin Bungard said reaching 100,000 billable portfolios is a significant accomplishment.
“We’re happy with the momentum of the business, the addition of 3,388 portfolios since 31 December 2015 has been achieved in what has traditionally been our slowest period of the year,” said Mr Bungard.