SMSF pioneer’s 20 year milestone

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Australian Superannuation and Compliance Limited (ASC), one of the pioneers in the SMSF market, is looking forward to celebrating its 20 year anniversary.

Reflecting on two decades of growth in February next year, founding principal and director Ravi Subramaniam believes the best is yet to come in the SMSF market.

In 1995 he founded ASC after changing careers to study the SMSF landscape and build a service that gave control back to the investor.

It provides “real time” SMSF administration and compliance service which encompasses an online portfolio monitoring and reporting facility for trustees and members of SMSFs.

Subramaniam is most proud of ASC’s online real time facility that utilises various IT, technologies and software available from within Australia.

“Not everything needs to be pushed offshore when it comes to IT, technology and developments,” he said. “That includes administration and support.

And as well as its in-house technology, the company can also utilise other platforms including HUB24, Macquarie Wrap, BGL, and Xplan.

ASC currently has 450 self-managed funds with over $400 million of FUM.

Looking forward, Subramaniam is confident that SMSF will continue to be the fastest growing segment in the Australian superannuation industry, but he warned the sector needs to ensure it has targeted offerings for each generation of investors.

Last December the Australian Taxation Office reported the number of SMSFs increased by 27% to 509,000 in five years, and have total assets of $506 billion.

“Many of the drivers of SMSF growth have changed very little over the years since I joined the financial service sector, with control of their retirement destiny being the main reason why Australians are turning to this facility in growing numbers,” Subramaniam said.

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