In a statement released last week, Topdocs said the new integration, which was available via the document provider’s online platform, enabled users to order the documentation to set up a new SMSF and then have the new fund automatically created in their account with BGL’s Simple Fund 360.
Topdocs director Michael Spakman said the new feature provided users with the ability to perform all required tasks to set up an SMSF via a single application form.
“The process of setting up a new SMSF can be time consuming, when you take all of the steps into consideration,” Mr Spakman said.
“First you have to set up the corporate trustee, then establish the fund, register an ABN and TFN, and then set everything up in your accounting and corporate secretarial software. Not to mention also having to document the investment strategy and open a bank account. This process overall could take up to an hour and a half from start to finish.”
Mr Spakman explained that following the new Topdocs integration with Simple Fund 360 and the document provider’s other integrations including CAS 360, Xero XPM and Macquarie, the steps required for SMSF set-up could now be completed with a single online application form.
BGL managing director Ron Lesh said the new integration would “complete the loop” for Topdocs when it came to SMSF set-up.
“Topdocs have created sensational integration with both CAS 360 and Simple Fund 360, being able to extract data from our database, populate documents and load the data back into both our products,” Mr Lesh said.
“This is a great professional solution for our clients.”
