A number of financial services firms have pushed further into Australia's self-managed superannuation fund (SMSF) sector through the launch of a new SMSF service and acquisition.
FSP Portfolio Services has teamed up with Super Concepts to launch FSP Origin SMSF.
The new service combines the investment capabilities of the FSP Portfolios Services' Prestige Plus offering with the SMSF administration function provided by Super Concepts.
It will give SMSF clients access to over 220 managed funds, all CHESS-tradable securities listed on the Australian Securities Exchange, term deposits and unlisted property trusts, a joint company statement said.
"In speaking with advisers over the last 12 months, one of the most frequent themes has been how difficult it is to start out in the SMSF space. As a result we have worked closely with FSP Portfolio Services to develop the FSP Origin SMSF administration service to help advisers cater for their clients who want to capitalise on the advantages of having an SMSF," Super Concepts managing director Craig Jameson.
Meanwhile, Multiport has bolstered its SMSF administration services offerings through the purchase of a stake in the AR Group.
"The purchase was strategic to us as we are broadening our service offerings to appeal more to the accounting market," Multiport chief executive John McIlroy said.
"The AR Group has been primarily providing services to accounting practices whereas Multiport concentrates on assisting financial advisers. Multiport will now have a better service offer for accountants and a better solution for advisers who are partnering with accountants."
AR Group managing director Bruce Coombes said the deal with Multiport would enable the organisation to increase its operational scale.
