Creating Efficiencies in SMSF Administration

Transcription

1 Creating Efficiencies in SMSF Administration Presented by Daniel Tramontana General Manager BGL Corporate Solutions Pty Ltd Breakout Session 2A

2 Todays Presentation Overview of Simple Fund Australia s leading SMSF compliance solution The (Automated) Praemium Data Feed Preparing Actuarial Certificates Portal by BGL Adding web access and document delivery of your SMSF data, reports and documents

3 Simple Fund Released in 1997 Market leading SMSF administration solution Used by over 5,000 professional firms Administers almost 350,000 SMSF s THE complete SMSF compliance solution

4 No. 1 SMSF Software Solution now in its 14 th Year No.1 SMSF Administration Solution - 300,000 SMSF Direct secure connection to ATO Document Management, Actuary Certificates SMSF Web Portal provides interactive client tracking Only solution that incorporates entire SMSF process to Audit Sign Off

5 Praemium Datafeeds Developing Efficiencies Data Feed from Praemium V-Wrap to Simple Fund No need to login into the V-Wrap Service Automated service Easy setup

6 Praemium Datafeeds Praemium Setup Login into Your Portfolio Select Maintenance, Data Download, BGL Simple Fund Export Enter the BGL Fund Code and Save.

7 Praemium Datafeeds Simple Fund setup In Defaults, input User Name, Password, Service ID In Fund Details, input Reference Number and Praemium Portfolio ID

8 Praemium Datafeeds Daily Automated Feed Multi Fund Module required Set the defaults and schedule in Simple Fund Select the funds Once complete, Simple Fund will produce a Data Upload Summary Report Demonstration.

9 Actuary Certificates BGL has automated the process for clients to obtain an Actuarial Certificate for pension funds Actuarial Certificates are requested and delivered through Simple Fund Data extracted from Simple Fund ledger Simple Fund performs all the necessary calculations Built in payment system Data and reports are delivered to the Actuary for approval Simple Fund delivers certificate to clients Launch actuaries are Act2 Solutions and Cumpston Sarjeant

10 Actuary Certificates

11 Actuary Certificates Exempt Income Percentage automatically added to the Simple Fund Actuarial Certificate is added to Simple Fund Document Management Tax invoice ed to clients Certificate can be delivered to client via Portal by BGL Minimum certificate price is $176 including GST Available to all Simple Fund clients

12 Portal by BGL What do clients want? Information that is relevant to them Ability to request information and track information requests 24/7 access to data and documents Easy to search and locate the most relevant documents Lower fees and costs Simplicity

13 Portal by BGL What do professional firms want? Practices want the same Automation Low cost Simplicity of accessing documents Traceability Low handling costs

14 The problem... One of the most common problems faced by professionals today is how to efficiently distribute and receive documents and information to/from clients. recent CPA survey in US indicates 4 th most important issue never designed to send large or confidential files and is inherently difficult to control workflow. Paper not the solution as it manual and costly.

15 What is a Portal A Portal facilitates end to end document delivery Firm to client Client to firm Accountant to auditor Firm to service provider Service provider to firm

16 The benefits Speed and Automation of document delivery Reducing human intervention but not service levels Confidentiality Reliability vs Cost (in and out) Simplicity Tracking / tracing / logging Automated follow up Sharing and returning source documents Version control Portal is already helping many firms gain incredible efficiencies

17 Portal by BGL Rather than implement complicated data encryption processes, your firm can use portal to collaborate with clients

18 Portal by BGL Portal provides powerful branding Clients log in from your site

19 Customisable Portal is white labeled You can easily customise logo, theme and s

20 User Administration Invite users Automated invitation and setup process 5 defined user roles User customisation

21 s and Alerts Automated reminders for documents and events BGL products track document status BGL product users notified of status changes

22 Example Sending Docs Prepare and Publish Documents

23 Example received Portal automatically s client with document link

24 Example - Client Logs In Client clicks , securely logs in and views document

25 Example Document Tracking Portal advises professional firm client has viewed document

26 Simple Workflow Uploading Document Client uploads any document 1. Portal s user with access to that fund 2. Filters make finding documents easy

27 Real time report requests Client requests PDF of Member Statement - 24/7 Simple Fund receives request, produces PDF in the background and sends automatically to Portal.

28 Portal Batching Publish any Simple Fund report for multiple funds Detailed report provided of documents published

29 SMSF web collaboration features Fund Details eg. ABN/TFN accessible 24/7 Real time request of member and investment reports Accountants can request missing source documents Investment Strategy can be reviewed and updated

30 SMSF Establishment Complete end to end solution deed, minutes, declarations, registers, ABN / TFN applications, ATO Guides, Investment Strategy, Bank account establishment forms, etc No more searching for the latest Deed accountant, planner, auditor and trustee all have access through Portal Data sent to Simple Fund New fund established in Simple Fund with a single mouse click

31 SMSF Establishment White Labelled - add your firm s branding Reporting - quickly view the status of funds Workflow - save partly complete funds

32 SMSF Establishment Step 1 Step 2 Step 3 Input the data once. All data validated with clear online help to guide infrequent users of the service. Confirm the details and quickly make any necessary changes. Secure SSL Payment using MasterCard, Visa or AMEX. You set the price. Step 4 Print Documents and fund data automatically sent to Simple Fund.

33 Your investment CAS Portal - priced from just $4.40 per company per annum 25 companies - $ per annum Simple Fund Portal - priced from just $6.60 per fund per annum 25 funds - $ per annum Current BGL Clients can register for a free 30 day trial at

34 What do our clients say How has your organisation benefited from using BGL Products? We want to be at the forefront of the SMSF industry and BGL Simple Fund is the cornerstone of that, we do not have a business without it but we are comfortable because we are confident in the product. How have the BGL products assisted your organisation in servicing your clients? Our clients pay significant fees for full service administration so it is important that staff use the best product available.. BGL has enabled online access and provide data transfer facilities between various other programs / platforms. It allows us to operate in areas we could not have gone to before. Unlike its competitors, they seem willing to work with others in the SMSF industry to ensure that their products meet our needs. Why do you trust BGL as your compliance solution provider? Because it has always been a solid program. There are those attempting to come into the market but they underestimate how complex the SMSF arena is and aren t up to the task. We trust that BGL will continue to look after our interests and ensure that the software available is better than there competitors If you were to recommend BGL to a colleague how would you describe our products and or services? Built by intelligent people who understand that BGL Simple Fund is more than an accounting package. It s a value-add to any business. How would you summarise your experience in using the BGL products and services? Very good. Good support for a quality product. I can not envisage us ever using any other product for our SMSF business