Fund manager provides Class software integration
Investment adviser and fund manager Stockspot has announced an integration with SMSF software provider Class, aimed at enabling income processing and investment tax reporting.
The integration will provide SMSF accountants and their clients with a direct data connection from Stockspot to Class.
Accountants will be able to receive a daily data feed that includes their client’s Stockspot portfolio investments, capital gains, dividend statements and franking credits, Stockspot said in a statement.
The integration will also automatically generate tax summary statements, cutting down on hours of administration and analysis of taxation data.
Stockspot founder and chief executive Chris Brycki said he expects SMSFs will be one of its largest growth areas in the next 12 to 18 months.
“Managing tax administration can be complex and very time-consuming for SMSF accountants,” Mr Brycki said.
“The automated feed from Stockspot to Class Super will save accountants hours of analysis and administration work at tax time for their SMSF clients using Stockspot.”
Class chief executive Kevin Bungard said robo-advice is one of the fastest growing areas of retail investment “with total assets managed by robo-advisers pegged to grow to US$2 trillion by 2020”.
Adrian Flores is the deputy editor of SMSF Adviser. Before that, he was the features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.