SuperGuardian’s new platform promises seamless SMSF onboarding

SuperGuardian has joined the LAB Network, the pair have announced, with the partnership promising to both significantly reduce the complexity of establishing a self-managed super fund (SMSF) for clients and increase their security.

As part of the deal, LAB Group, a Melbourne-based regtech developer and onboarding support provider, will provide its onboarding framework to SuperGuardian. The framework and LAB’s platform will, the developer said, streamline the digital engagement journey for clients seeking to establish a new SMSF or transfer the administration of an existing SMSF to SuperGuardian.

SuperGuardian will also gain access to LAB’s Application Manager, enabling advisers and intermediaries to originate applications into SuperGuardian on behalf of their clients.

“Until now, establishing an SMSF has meant dealing with a number of different service providers and government departments, which can be complex and time-consuming,” LAB Group wrote.

“This collaboration will make establishing an SMSF much simpler for advisers and more secure for their clients, who may be looking to join the growing number of Australians taking control of their superannuation in an SMSF.”

Beyond the core LAB Platform, SuperGuardian will also adopt LAB’s Verify service, which effectively automates identity and entity verification requirements.

Through the partnership, the SMSF provider will also benefit from LAB’s existing partnership with Macquarie Bank to streamline the opening of Macquarie Cash Management Accounts for clients.

LAB Group said the solution is now live after a rapid, two-week deployment.

Looking forward, LAB said it would also look to collaborate with SuperGuardian to further automate its onboarding processes, with a range of new integrations and features promised.

LAB noted that this was its first entry into the SMSF administrator vertical.

SuperGuardian chief operating officer, Josh Williams, said the new partnership with LAB will deliver for its clients “a straightforward and easy-to-navigate sign-up process”.

“The new process streamlines and automates a number of manual steps, including digital identity verification for both direct and adviser-led prospects.”

“It has also enabled integration with Macquarie Bank for account establishment and we look forward to further expanding connectivity with other financial services businesses across the LAB Network, for the benefit of our clients.”

SuperGuardian is an independently owned, private Chartered Accounting firm and registered tax agent established in 2002, providing up-to-date reporting, compliance and tax services for SMSF trustees and their financial advisers.