WHK looks for IT help to boost SMSF services
WHK is looking to engage a super fund IT provider to improve the client experience of its current self-managed superannuation fund (SMSF) client base and better market its SMSF services to wider clients and the market.
WHK sent out a Request For Information document (RFI) to five IT companies seeking information on their capabilities, pricing and ownership structure. The IT providers include Class Super, SuperIQ, BGL, Supermate, and Desktop.
The RFIs have been returned and WHK is now in the stage of reviewing them, said head of financial services John Nantes. WHK hopes to have a preferred provider by the end of the calendar year and test the provider's capabilities on existing SMSFs next year.
WHK hopes to enhance SMSF clients' interactive experience, allowing them to be more in control of their fund, and to increase accurate and efficient outcomes.
"It means that they can look at their super fund and know - up to date - what is their position financially, from a tax point of view, and their asset allocation," Nantes says.
WHK is looking for a program that can update clients instantaneously, he added.
"Given our large client base, we'll be better able to interact and convert clients into self-managed super funds where they need it," he said.
WHK has 11,000 SMSFs with approximately 20,000 clients. It also has 20,000 clients in the investments, superannuation, lending and financial advice space.
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