View our FAQs below to find out answers to common questions people ask about us. If you can’t find what you’re looking for, please contact us.
What do you need to know?
- ‘Full Service’ administration of SMSFs for advisers (including daily transactional data, monthly reconciliations, annual accounts, SMSF return and audit).
- Establishment of new SMSFs, bare trusts, deed upgrades.
- Transition of SMSFs onto the Intello system
- Full administration is more than simply the basic compliance administration which includes the mandatory preparation of financial statements and SMSF annual return.
- As defined by Rice Warner Actuaries in their report they prepared for ASIC (download here) ‘Full administration’ provides additional services including: investment accounting, access to online investment platforms, investment analysis and reporting.
- In addition to the up to date investment and member reporting (including contribution caps and pension limits) Superfund Wholesale also provides additional SMSF technical support via our qualified and experienced team.
- No. All work is carried out in Australia by our Australian trained and qualified team.
- We leverage technology rather than low-cost labour to deliver our services.
- No. We only deal with SMSF professionals including financial planners, accountants and brokers.
- Our sister company, Superfund Partners, is a full service SMSF administrator dealing direct with SMSF trustees.
- The annual SMSF audit is included in the monthly fee but is outsourced to our independent audit partner.
- Actuarial certificates (defined benefit and tax exemption) are provided at an additional fee.
- As a wholesale provider we do not provide specialist advice direct to trustees, investment advice, estate planning advice or pension advice
- Generally no. By doing so many of the efficiencies built into our system are lost and it will impede the service we are able to deliver to you as an adviser.
- Our default auditor is familiar with our systems and has been involved in the development process. Alternate auditors may not have the same economies of scale and efficient systems, and the increased fees charged may undermine the some of the benefits of the Superfund Wholesale system.
- Our default auditor is ASF Audits. ASF is one of the largest and most experienced specialist SMSF audit businesses in the country and all their work is conducted in Australia at their Adelaide office.
- Our two current trust deed and documentation providers are Now Infinity (default) and Topdocs (alternate).
- All prices quoted on our website are based on our default document provider Now Infinity. Where you chose to use our alternate provider Topdocs, an additional fee of $286 (inc. GST) will be incurred for all SMSF establishments, deed upgrades or changes of trustees.
- We don’t mandate a particular deed / document supplier or force advisers to switch to our preferred deeds.
- Although we prefer you utilise the same trust deed for all your SMSF clients, we do not mandate this either.
- There are two fee options: client direct or bulk to the adviser.
- Intello can direct debit your clients bank account each month.
- Intello can also invoice you monthly in bulk for all clients we administer on your behalf. This enables you to add a margin to our wholesale SMSF administration fees.
- No. There are no ongoing fees to access our online systems or reports.
- We don’t prescribe any specific billing amounts or timeframes.
- You have total control over what your clients are charged and how they pay for the administration of their fund.
- You need to ensure that the fee charged adequately takes into consideration any work you and your staff undertake liaising with Intello and also the value of the service provided.
- As a general guide we recommend monthly fees be at least 50% higher than what we charge you to compensate you for any time your staff spend assisting with the administration of the SMSFs.
- Technology – our specialist SMSF administration software provides huge efficiency gains through the use of automated data feeds from our approved broker, wrap and cash management account providers. Combined with our unique web based systems that streamline the establishment and ongoing management of SMSFs, we can prepare SMSF accounts with significantly less manual interaction compared to traditional paper based systems.
- You are in control – we believe that as your clients primary adviser, you are the best placed to source the documentation and information necessary for us to administer your clients SMSF. Our fee structure takes this into consideration, enabling you to be compensated for the time you spend providing the necessary information via our web based system.
- Scale – because of the number of SMSFs we administer and the limited the range of approved investment platforms available, we have obtained significant economies of scale and have past these efficiency savings onto you through a reduced fee.
Approved investments & accounts
- Intello has experience working very closely with our software providers, advisers and third party providers when it comes to getting a new data feed activated.
- We can provide the information needed as well as work with our software partners to test data feed functionality.
- No. We are completely agnostic on the choice of bank accounts, brokers or platforms you utilise for your SMSF clients.
- We have the largest range of data feeds available which ensures we can keep your clients SMSFs up to date with minimal manual processing.
- Any accounts mentioned on our website are for example only.
- We also road-test a lot of accounts, brokers, etc. Our current preferred broker for advisers is OpenMarkets and our preferred cash account is the Macquarie CMA (with CBA’s Accelerator Cash Account a close second).
- Copies of the end of financial year reports will be made available through our website. There will be two report packages that users will download, print and send to their clients:a copy for the client’s records, and a copy to be signed by the client, then uploaded back onto our system to enable finalisation of the audit and lodgement of the SMSF annual return.
- Signed audit reports will be made available through our system when issued.
- Digital signature options are also available.
- Because of the nature of the clients we look after on your behalf (i.e. advised clients) the overall risk of an ATO compliance audit in our opinion is lower than the overall SMSF population.
- Due to our constant reporting and review of your clients SMSF transactions throughout the year, in most cases any unusual transactions will be discovered quickly and you can work with your client to rectify any compliance matters.
- Where the ATO requests documentation as part of a review or audit, Intello will provide all documentation available to us. Additional documentation may be required from you as the adviser or your client.
- Where additional work is required resulting from an ATO review or audit which is outside the scope of the Service Agreement with Intello, we can re-engage you and your client on a stand alone basis for that work.
- As part of the adviser registration and approval process, we will provide you with online access to your clients SMSF accounts.
- These reports generally are updated daily with transactional and investment pricing data, and manually reconciled by our team on a monthly basis (although more and more transactions are coded automatically).
- By default, all ATO correspondence will be sent to Intello, and we will save it into our secure document management system which you can access.
- It is up to you whether the documentation is forwarded onto your clients.
- Yes. You can request online access be granted for your clients. They will need to have a valid email address to gain access.
- We can also provide additional access on a fund-by-fund basis to other advisers you or your client believes should have access to the information.
- You as the adviser control which clients have access to their fund.
- No. The only place your clients will see our details will be the tax agent details on the SMSF annual return and any Service Agreements that are put in place.
- We also recommend full disclosure of the relationship between your business and Intello, including where the work is carried out (i.e. all in Australia compared to other low cost providers who do the work offshore sometimes without informing their clients).
- Online accounts access will be re branded for your business, as will any PDF reports generated from the online portal and the end of year financial statements.
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