Direct data-feed for SMSFs to hit the market

2 August 2016
| By Hope William-Smith |
image
image
expand image

Automated investment adviser Stockspot, announced it is integrating with SMSF administration software provider, Class Super, to provide accountants with a direct data-feed, enabling incomes processing and investment tax reporting.

The capabilities of the new software include a data feed summarising Stockspot's portfolio investments, capital gains, franking credits and dividend statements, as well as automatically generating tax summary statements.

"Robo-advice is the fastest frowing area of retail investment, with total assets managed by robo-advisers pegged to grow," Class chief executive, Kevin Bungard, said.

"SMSF investors are increasingly open to robo-advice and Stockspot is a pioneer in this space."

Stockspot founder and chief executive, Chris Brycki, said that the integration would cut down on admin hours for accountants and increase efficiency for clients.

"Managing tax administration can be complex and very time consuming for SMSF accountants. The automated feed from Stockspot to Class Super will save accountants hours of analysis and administration work at tax time for their SMSF," he said.

"We expect SMSFs will be one of our largest growth areas in the next 12-18 months as they seek access to... impartial investment advice".

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 2 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 2 weeks ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 6 days 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....

1 day 4 hours ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 4 days ago