Technology is playing a significant role in shaping the future of the SMSF industry. Generally, the SMSF industry has been slow adopters of technology, much of this probably due to the fragmented nature of the industry and the relatively low historical numbers of SMSF clients per professional. This is changing and at a fairly rapid rate… Already we are seeing changes in trustee behaviour as a result of the disruptive nature that some SMSF service providers are offering due to efficiency gains in technology.
The shift to ‘cloud’ has been met with trepidation by some within financial services, however it is expected to dominate the sector in the year’s ahead as professionals build greater efficiency and effectiveness into the SMSF client value proposition.
SMSF Podcast Show
In this SMSF Podcast Show, Aaron Dunn is joined by Ron Lesh, Managing Director of BGL Corporate Solutions Pty Ltd, market leader in SMSF administration software with Simple Fund and Simple Fund 360. Aaron and Ron discuss the:
- relatively slow uptake of technology by professionals within the SMSF industry, and some of the benefits that businesses gain by adopting current technology,
- pros and cons of moving your SMSF business to the ‘cloud’, and how to best assess this decision; and
- how technology is influencing trustee behaviour and what professionals need to be thinking about with their clients in the coming years.
As always, I encourage any comments about the growing role of technology and what it means to you and your business (and fund trustees)… I hope you enjoy!