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Forward Thinking Magazine : April 2011
59 ■ L to R: Peter Forrest and Rob McCabe, Macquarie Adviser Ser vices; Wayne Blazejczyk, Ballast; and Ron Lesh, BGL. self managed super funds Importance of technology Currently there is much willingness by SMSF advisory businesses to change, to embrace technology and use it to become more efficient and scaleable. “There is more comfort using technology,” McCabe says. “We find those that haven’t used it are looking at the benefits of doing so. They want to hear good ideas.” Blazejczyk says in his business SMSF clients expect high contact, so efficient administration and processes are key to freeing up advisers for their clients. “If you have got a great process and system, it’s quite user-friendly,” he says of the SMSF market. “Because we have a step-by-step process, it makes it fairly easy to do.” But in some cases, good processes are not enough. Marcellos and Smith say unless the SMSFs themselves are established in a particular way, good processes will only be able to do so much. “For example, if the client wants to take a loan out to invest in property, we assist them so they set (an SMSF) up in the right way and everything comes back to the information hub,” Smith says. “We get the depreciation schedules, we get the rent coming into the banking account.” The key here is control over the data. “Data is the key to the efficient administration of SMSFs,” Marcellos says. “The longer it takes from an administrator to be informed of a transaction, the more inefficient it is.”