Synchron happy with western expansion as Russell Investments predicts changes to investment solutions and the Australian Securities and Investments Commission (ASIC) reminds SMSF auditors of the April deadline for applications.
Synchron targets Queensland after WA success
Risk dealer group Synchron has doubled its adviser presence in Western Australia over the past six months and now has Queensland in its sights. The non-aligned licensee increased the number of advisers operating under its banner in the west from 14 individual authorised representatives to 31. Synchron director, Don Trapnell attributed the group’s success to Synchron’s to the work of WA state manager, Bernie Fernandes.
“Bernie’s appointment has been instrumental to our growth in Western Australia,” said Trapnell. “He has helped Synchron build profile in the state and worked with us to develop our services in the region.”
Synchron is looking to replicate this success in Queensland, where it now has 85 individual authorised representatives.
Russell’s quest for Holy Grail
Asset manager Russell Investments is predicting a major step-change in the way Australian institutions approach their investment challenges in the coming decade – forecasting a flood of demand for outcome oriented, multi-asset investment solutions. Russell’s Asia-Pacific chief executive Alan Schoenheimer said Australian institutional and adviser clients were rethinking their strategic approach in the wake of the GFC and heightened demand for effective investment and retirement income solutions.
“Our clients are telling us they want investment solutions that start with the individual needs of their end investors, and one big theme getting these clients excited is the idea of solutions that provide equity like returns but without the volatility of the sharemarket,” he said. “This holy grail of returns with less risk is now possible due to exciting new product innovations in the multi-asset space.”
SMSF auditors face April deadline
Auditors who currently conduct SMSF audits are urged to apply for registration with ASIC by April 30, to ensure they are registered before July 1. ASIC assumed responsibility for registering “approved SMSF auditors” on January 31 as part of the Australian government’s Stronger Super reforms. Registration will be mandatory for anyone conducting an SMSF audit from July 1 and sanctions may apply if an auditor accepts an SMSF audit engagement without being registered after this date.
If an applicant’s registration is not finalised by this date, they will not be able to conduct SMSF audits, even if ASIC has received their application. Some existing approved auditors of SMSFs may also be eligible for exemptions from the requirements of registration if they lodge their application during the transitional period.