Asgard Wealth Solutions has entered into an agreement to have Smartsuper provide the administration service for self-managed superannuation fund (SMSF) clients, within its eWrap platform product.
Prior to the new deal Asgard was providing the SMSF administrative function itself via a service called Superlink.
"We've only got 200 clients using Superlink and it didn't seem to be meeting the needs of the market as much as we'd like," Asgard Wealth Solutions head of product strategy Lisa Chadwick said.
"What we like to do strategically is look around in the market to determine if we can do it better ourselves or can someone else do it better so we seek to partner with specialist providers for the best outcomes for investors and advisers.and we believe Smartsuper actually does deliver that," she said.
The administrative option will now be more robust for Asgard clients, according to Smartsuper chief executive Andrew Bloore.
"Our role is much more around helping trustees understand what they need to do to carry out all of their obligations, like preparing the minutes for transactions, monitoring their investment strategies, and making sure they adhere to the things they need to," Bloore said.
The revamped facility will be available for use from July onwards and Asgard is hoping to increase the number of clients using the service after rollout.
