SuperAstute will enable in establishing the fund’s trust deed and linked bank accounts, monitoring investments, monitoring contribution limits and end of year audit and tax return requirements.
Financial Standard quoted Diego Del Rosso, Bendigo and Adelaide Bank’s senior manager for strategic partners and wholesale as saying that the service was designed as a complementary offer to the bank’s existing low-cost superannuation range to service the spectrum of super customers wanting more flexibility and control.
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"Although there is consolidation going on it (the market) is still quite fragmented and given our partnership with SuperIQ we saw it as a perfect positioning for us to be at the forefront of this new technology particularly in our customer base," Financial Standard quoted Del Rosso as saying on the recent consolidation occurring in the administration space.
He also added that the partnership with SuperIQ, in which AMP has a 49% stake, commenced late last year in order to build the product.
Recently, SuperIQ had acquired former Perpetual business Smartsuper.
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