accountantsGPS provides accountants, and other SMSF professionals such as, administrators and financial advisers, with Australia’s first digital Self-Managed Super Fund (SMSF) Check-up report. This is a factual report and is produced in minutes; a task that would typically take hours or days, depending on the fund’s complexities.
The SMSF Check-Up Report provides the professional with a comprehensive digital analysis of a client's SMSF to ensure Trustees & Members, meet their operational, compliance and wealth objectives for an optimal, customised outcome. The development of this factual report also significantly impacts the industry, as Accountants and Administrators can now deliver affordable, comprehensive analysis & guidance for their SMSF’s, without needing a licence.
This SMSF industry-first also delivers significant value and insights for funds trustees and members, by initiating important discussions on a range of critical topics, including contribution strategies, retirement planning, estate planning and insurance.
In summary the SMSF Check-Up report provides in-depth analysis covering:
▪ Key financial and management insights on the ‘health’ of the fund to the trustees and members.
▪ An important quality check and compliance tool for the accountant and auditor.
▪ Accountant support presenting the analysis to the client knowing they’re not required to be licensed. ▪ A high-level gap analysis identifying potential opportunities and issues with the fund
▪ Analyses fund costs with an ‘apples for apples’ comparison against SMSFs and APRA funds of similar size, and asset mix.
▪ Retirement modelling incorporating current contributions, tax modelling, asset allocation, and modelling balance longevity.
▪ Opportunity for the accountant to deliver tailored guidance where possible, relating to specific superannuation matters within regulatory parameters.
The SMSF Check-Up report was created with the assistance of BGL Corporate Solutions and is currently available to all BGL Simple Fund 360 users. This technology is also being adapted to new markets including the next phase of accountantsGPS development plans in creating an SME Check-Up Report for small business.
As a result of developing this industry first digital report, accountantsGPS was named a finalist in the 2023 Technology Scale Up Awards.