ANZ to launch digital Self-Managed Super Fund
31 October 2013 | 1334 views | 0
ANZ today announced the launch of its new digital solution for Self-Managed Superannuation Funds (SMSF) as a further step in its strategy to create simpler and more convenient ways for customers to better engage with their wealth.
ANZ CEO Global Wealth Joyce Phillips said: "This new SMSF solution will enable ANZ to provide clients with an integrated digital product that helps them manage all their self-managed superannuation needs in one place.
"This is a further step in our ambition to transform the wealth industry in Australia. Digital and mobile technology is increasingly driving how we operate and how we serve our customers, and as their behaviours change, we're focused on finding new ways to better connect customers with their wealth.
"We see an opportunity for ANZ to become a key player in the SMSF market, which today is the largest superannuation segment in Australia with assets of around $500 billion," Ms Phillips said.
'ANZ Self Managed Super' will be made available to customers from early December 2013. The key benefits for customers will include:
* Convenience - being able to have a full view of all SMSF assets and information in one online dashboard so that decisions can be made in real time; industry leading simple application process;
* Control - 24/7 access through an online portal, which also provides reporting, investment monitoring, document storage and underlying product transacting capability;
* Security and compliance - customised alert systems (via text message, email or post) allowing customers to stay on top of their SMSF compliance and legal obligations;
* Value - integration with a wide range of products and solutions across wealth, retail and commercial banking;
* Efficiency - completion of tax and audit requirements involved with running an SMSF, underpinned by industrial strength accounting software.
In delivering the new digital SMSF solution, ANZ will partner with specialist SMSF service provider Super IQ Pty Ltd.
As part of this agreement with Super IQ, ANZ also announced today that it had agreed to sell its wholly owned SMSF accounting, tax and compliance business, Super Concepts Pty Ltd to Super IQ.
The sale of Super Concepts is not material to ANZ and will be completed by close of business today. The terms of the sale were not disclosed.