Enhancing Client Wealth Management with Class Consolidated Portfolios

Accounting firm Perks is a longstanding member of the South Australian business community, approaching 30 years old. But a look inside the firm is also a peak into the future of how accountants and financial advisers will increasingly work together to service clients.

And Class is an integral part of that relationship.

Manager of SMSFs Kerry Bosnich highlights that Class consolidated portfolios enable comprehensive administration of client assets—both within and outside superannuation—on a single platform. This integration simplifies collaboration between accountants and planners, enhancing SMSF administration and trust accounting processes.

Perks manages numerous non-SMSF portfolios through its in-house planners, alongside its dedicated SMSF administration services, utilizing Class SMSF Administration Software to ensure efficiency and compliance.

“Class offers our advisers an intuitive, visual interface, delivering a consolidated view of client portfolios that surpasses other planning software in usability,” Kerry notes.

“They can see the SMSF at its true value more constantly, including the value of all the assets they don’t manage. Before they could only see the assets that they directly managed.”

Kerry says consolidated portfolios brings much greater efficiency to the administration of a client’s wealth and contributes towards superior service.

“It provides a comprehensive overview of clients’ wealth positions, enabling us to deliver more timely and informed advice,” she says.

“It also helps us to match transactions. We can see the money going into and out of an SMSF and a non-SMSF portfolio as well as the money that passes between them.”

Class software’s automation of corporate actions—including share buybacks and dividend payments—reduces manual processing, enhancing efficiency in trust accounting and corporate compliance.

“We like the corporate actions, that’s very useful for us in identifying those actions when they come through and pre-empting what we should be looking for on the transaction side and the information we need for clients,” Kerry says.

Easy to Learn

As a growing firm, Perks values Class’s comprehensive training modules, which facilitate rapid onboarding of new staff, ensuring swift proficiency in SMSF administration and trust accounting tasks.

“We had a new staff member start recently and her feedback on the Class training modules was very positive. The questions at the end of the modules really helped her to assess how well she had learned the material.”

“It was a very good introduction to SMSFs for her.”