Service Standards

Superfund Wholesale endeavours to adhere to high service levels when it comes to assisting advisers with their SMSF clients.

The following tables outline the service standards users of our services should expect:

Technical & General Support:

SMSF technical and strategic support

  • Telephone support provided 8:30am to 5:00pm AEST Monday to Friday (QLD time)
  • Telephone technical support dependent on availability of qualified team members and/or relationship managers
  • The company will aim to answer or return 80% of technical support enquiries within 1 business day
  • The company reserves the right to limit the support under certain circumstances
  • Support not available on public holidays or over Christmas / New Year Holiday periods
General and administrative support
  • Telephone support provided 8:30am to 5:00pm AEST Monday to Friday (QLD time)
  • Telephone general and administrative support dependent on availability of appropriate team members and the nature of the enquiry
  • Support not available on public holidays or over Christmas / New Year Holiday periods

 

Ongoing SMSF Administration Services:

The follow applies to existing funds that are on a monthly processing cycle and the company has prepared and completed the annual return for the previous financial – i.e. these service standards do not apply to funds that the company is transitioning, are the first year or are on an annual processing cycle.

Reconciliation of bank accounts and investment positions
  • Transactional information received daily in most cases depending on account provider
  • Requests for information for unmatched (unreconciled) transactions provided monthly within 2 weeks of end of month
  • Where all necessary information has been provided by the practice 75% of funds will be updated to the end of the month within 4 weeks of end of month
Maintenance of member details, pension limits and contribution caps
  • As per above (reconciliation of bank accounts and investment positions)
Maintenance of clients’ investment portfolio including valuations
  • As per above (reconciliation of bank accounts and investment positions) for transactions relating to the sale and disposal of investments
  • Accuracy of holding information depending on data feed information provided from account provider
  • Where no data feed is available for investment holdings accuracy dependent on information provided by practice
  • Investment pricing for listed investments typically provided daily with limitations
Preparation of annual financial statements and SMSF return
  • Completion of accounts and SMSF annual returns scheduled between July and May each year dependent on client specific and practice specific factors
  • The company will endeavour to accommodate requests for completion of client accounts within a specific month however scheduling will be at the discretion of the company and will take into account resource availability
  • Annual client accounts to be completed within 8 weeks of scheduled commencement date provided all requested information has been provided by the practice
  • 95% on time ATO lodgment rate targeted (noting exception for transition and first year clients as well as funds with multiple years of tax lodgments outstanding)
Completion of annual independent audit
  • Audit services are provided by an independent party
  • Any noted service standards are dependent on our audit partners
  • 90% of audits to be completed within 2 weeks of all relevant information provided
  • Exceptions for funds with compliance breaches or where additional information is required
Activity statements including IAS and BAS
  • 95% on time ATO lodgment rate targeted where all necessary information has been provided
  • Preparation of activity statements run in conjunction with monthly reconciliation process outlined at above (reconciliation of bank accounts and investment positions)

 

ONLINE SERVICES

The following service level KPIs will only apply when a user from the practice requests one of the following services via submission of an online form via the Superfund Wholesale website / Adviser Portal.

New SMSF Establishment 
  • 99% uptime for online form available via the online portal
  • Users to be contacted within 2 business days where the new SMSF application is incomplete or has inaccurate information
  • Users to receive soft copy of documents within 2 business days after receipt of all required information
  • Users to receive hardcopy of documents within 5 business days after receipt of all necessary information
Transfer Existing SMSF
  • 99% uptime for online form available via the online portal
  • Users to be contacted within 2 business days where the SMSF transfer application is incomplete or has inaccurate information
  • Company to issue ethical letter to former administrator / accountant within 3 business days
  • Company to set up SMSF on Class Super within 2 weeks of receiving all required information from adviser and/or previous accountant / administrator. Data feed authorities issued for signing at this time.
Change SMSF trustee
  • 99% uptime for online form available via the online portal
  • Users to be contacted within 2 business days where the application is incomplete or has inaccurate information
  • Users to receive soft copy of documents within 2 business days after receipt of all required information
  • Users to receive hardcopy of documents within 5 business days after receipt of all necessary information
New Bare Trust
  • 99% uptime for online form available via the online portal
  • Users to be contacted within 2 business days where the application is incomplete
  • Users to receive soft copy of documents within 2 business days after receipt of all required information
  • Users to receive hardcopy of documents within 5 business days after receipt of all necessary information
Pension request
  • 99% uptime for online form available via the online portal
  • Users to be contacted within 2 business days where the application is incomplete
  • Users to receive soft copy of documents within 2 business days after receipt of all required information
  • Where information is outstanding under the Ongoing Fund Administration Services (i.e. accounts not up to date) the Company will issue a non-detailed commencement request to confirm establishment of the pension within 2 business days of receiving the request.
Investment Strategy request
  • 99% uptime for online form available via the online portal
  • Users to be contacted within 2 business days where the application is incomplete
  • Standard investment strategy document should be returned electronically same day
  • Where any additional customisation to investment strategy wording is provided expected timeframe is 2 business days
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