Class reaches 100k milestone

Class Super SMSF

3 March 2016
| By Daniel Paperny |
image
image
expand image

Australian self-managed superannuation fund (SMSF) software provider Class has this morning announced it has surpassed a total of 100,000 billable portfolios on its cloud platform.

The announcement comes on the back of news earlier this month that Class had partnered with Depreciator to deliver data accuracy and boost depreciation schedule efficiency.

According to Class, the administration software provider has increased its billable total by 3,388 portfolios since 31 December, 2015.

The company has been developing and delivering cloud software solutions for the Australian wealth accounting market since 2009.

Class chief executive, Kevin Bungard, said that this was a "significant accomplishment" for the company.

In terms of composition, Class said that currently it had 98,515 SMSFs on the platform, together with 1510 other non-SMSF investments administered on the new Class Portfolio product. This brings Class' share of the overall SMSF market to over 17 per cent and its total number of customers to 865.

"We're happy with the momentum of the business - the addition of 3,388 portfolios has been achieved in what has traditionally been our slowest period of the year," Bungard said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 3 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 1 hour ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 4 hours ago