More revealed about new plans for major SMSF administrator
As well as upping its investment in its Adelaide office and scaling back its Victorian presence, SMSF Adviser understands one major SMSF administrator is looking offshore as part of its new operations strategy.
As reported late last month, SuperConcepts plans to expand its operations in Adelaide. The South Australian government is providing $1.6 million to support the expansion via the Economic Investment Fund.
As part of this change, SuperConcepts also confirmed last week it will be scaling back its operations in Victoria.
SMSF Adviser understands the accounting work that was being completed in the Glen Waverley office will transition to Adelaide or SuperConcepts’ new Indian operations as they come online. The client management duties will transition to the Adelaide and Sydney teams.
“SuperConcepts has always had staff locally and internationally. We are committed to maintaining an Australian business and have just committed to a long-term plan to create a SMSF hub in South Australia with the state government. We will continue to provide services using both our Australian and overseas employees,” a memo to staff said.
SMSF Adviser also understands SuperConcepts will continue to have an office in Brisbane. However, it is relocating its administration business support roles to its Sydney office.
Staff are being encouraged to consult with their direct manager where they have questions. An official consultation period was under way since the news was first announced, closing today.
Although the process is still ongoing, staff have advised SMSF Adviser that SuperConcepts is providing support to employees with redundancies, free support, services including career coaching, and financial advice.