SuperConcepts announced that it will be expanding its operations in Adelaide. The expansion is set to create 52 skilled jobs in the state’s financial services sector.
The South Australian government is providing $1.6 million to support the expansion via the Economic Investment Fund.
According to the South Australian Centre for Economic Studies’ calculations, the net present value of gross state product impact over the first 10 years of the project will be $79.7 million.
SuperConcepts chief executive Natasha Fenech said the agreement will be a foundation for further growth and investment in South Australia.
“We will continue to invest to expand and evolve our offering to both build our presence in South Australia and so we can deliver greater efficiency, both for our business and for our customers through innovative, simple and cost-effective solutions,” Ms Fenech said.
South Australian Premier Jay Weatherill said the expansion demonstrates confidence in the state’s future and the state government’s support of growing industries.
“SuperConcepts is the latest in an increasing list of high-profile investments in this state facilitated by Investment Attraction South Australia. [This] list includes international aerospace company Boeing, IT giant NEC, food processor Ingham’s and IT services provider Datacom,” Mr Weatherill said.
South Australian Minister for Investment and Trade Martin Hamilton-Smith said SuperConcepts’ expansion in South Australia will see Adelaide become a national hub for SMSF administration and will develop the next generation of industry experts on its doorstep.
“I’m pleased to be able to offer SuperConcepts a grant of $1.6 million to help create new, highly-skilled jobs and grow its workforce,” Mr Hamilton-Smith said.
How is the Adelaide expansion going & the addition of 52 new jobs. More money wasted by the SA government.
Sad news for the Glen Waverley staff & their clients.
Relationships between ‘valued’ clients & loyal staff are often ignored by so called Client Service Management.
This management cares only for their ongoing bonuses and nothing for their staff or client needs. Dollars first and nothing else matters.
Finally I would like to thank Sue Daicos for all her excellent personal service over the past 10+ years.
I wish her & her family the best in what must be a difficult time.
‘Simple cost effective solutions’. LMAO.
Has anyone read the SuperConcepts offerings. A fee schedule of over 50 items.
All I want from my administrator is a set of accounts, income tax return & arrange an independent audit.
Super Concepts (with a space) delivered that well up until 4 years ago. Once AMP (SuperIQ) got involved the administrator started dictating to me how I should keep records what bank account, data feed rubbish.
I will no longer be using their service.
Truth – you hit the nail on the head. The competitors will be lining up to feast on this carcass. Been monitoring the progress of AMP’s foray into the SMSF space for a few years now. They give the cute press releases that they’re here to transform the industry, but a move like this shows their true motives.
All about the spin of the article. “Expansion” is a bit rich considering off the back of this anouncement they have culled estimated 40+ experienced SMSF operators from their Melbourne office for the sake of a quick cash grab.
Great for SA but no mention of the 30 odd people who are being made redundant in Melbourne – and to float this as expansion is a bit rich given it is a relocation – nonetheless the SC Execs and AMP will prob chalk it down to ‘organic growth’ to get their bonus’ though. This move may jeopardise a lot of the local client base – it will benefit local players like Triple A, SMSF Works, First Class Super and others who have sold to SC’s and may look to set back up again.
Headline should read Major Administrator closes Victorian SMSF office
Unfortunately what this article fails to address is that this deal came at the expense of 40+ employees from their Glen Waverley office and they have effectively “shut down” their Victorian presence for quick money out of SA as well as outsourcing the majority of their funds to overseas operations.