SMSF Pioneer Ravi Subramaniam and Australian Superannuation & Compliance Celebrate 20-Year

MELBOURNE, Australia - Feb. 16, 2015 - PRLog -- This month marks a significant milestone for founding Principal and Director Ravi Subramaniam of Perth headquartered Australian Superannuation and Compliance Limited (ASC) as he and the company celebrate their 20^th anniversary in the Australian Financial Service marketplace.

“I can honestly say that my passion, enthusiasm and drive have not waned since deciding to start the business two decades ago”, said Subramaniam.  “Yes there have been challenges – as I am sure there will be in the future – but when you have loyal clients, professional alliance partners and an experienced team it makes it all worthwhile and personally rewarding”.

Reflecting on the past 20 years of growth and success Subramaniam said he attributes his and ASC’s longevity to a steadfast commitment of providing the highest levels of quality, service and optimisation of the latest technology.

Technology has been an ASC strength ensuring it provides dedicated ‘Real Time’ SMSF administration and compliance services which encompasses an online portfolio monitoring and reporting facility for trustees and members of self managed superannuation funds.

As a leading edge SMSF administration and compliance provider since its inception, ASC was amongst the industry’s pioneers that foreshadowed the ‘Real Time’ and compliance related services many in the sector are currently emulating.

“I am especially proud that ASC’s growth and marketplace reputation has been built on the quality of our knowledge and expertise to solve complex administrative problems.  This in turn has been reflected in referrals and recommendations by satisfied clients commending and referring ASC to accountants, lawyers,  planners, business associates, and family members”, said Subramaniam.

“SMSF administration and compliance is an area that demands many years of experience in order to provide this service and facility competently.  The early and ongoing utilisation of technology continues to be the key to ASC’s success and preferred partner status by accountants, lawyers, etc seeking to support their client service and related activities”.

As Subramaniam looks to the future, he sees an industry that is entering a new phase with far different dynamics that will be required to be addressed by advisers and service providers.  “The new SMSF era will need to deal with the impact of Baby Boomer investors ceasing their contributions to enter retirement and as a consequence this – added to the impact of benefit payments and drawdowns from funds – will combine to surpass those of contributions for the first time”.

A particular concern for many industry professionals is the longevity risk that a healthier population of retirees will outlive their retirement nest eggs requiring advisers and trustees to provide SMSF holders advice for the need to consider their long term investment strategies and lifestyle goals carefully in order to maximise funds in retirement.

Irrespective, SMSFs will continue to grow in popularity as they reflect an increased demand and desire by Australian consumers to take control of their retirement planning journey.  In the past, SMSF was considered the domain of the ‘mature’ and more affluent male investor.  Today, ASC experience supports those of recent industry reports that show more sophisticated, younger and academically qualified individuals considering SMSFs than ever before.  Interestingly, women feature prominently in this growing trend of interest by younger investors.

Subramaniam also points to the obvious rationalisation of service providers (including accountants) to being a significant hallmark of the coming years as new regulations will require improved competency standards, especially of approved auditors.

Another area of concern relates to the true costs of administrating an SMSF by service providers such as ASC which are increasing significantly every year.  With more and more regulations being passed the administrative process associated with compliance has become the most challenging area and it is not being helped by the burden being placed onto the administrator service providers to absorb.

Although confident about the future, Subramaniam believes the number of ‘generalist SMSF advisers will decline significantly and the services of specialist practitioners supported by qualifications such as SSA from SPAA will be sought and in most demand by consumers.

“Over our 20 year history, ASC has invested significantly in training, development and technology to provide ‘Real Time’ SMSF administration and compliance services which encompasses an online portfolio monitoring and reporting facility for trustees and members of self managed superannuation funds.  I am confident the ASC model that has proven to be so effective in the past, will continue to be relevant, valued and appreciated by industry professionals seeking the best outcomes for their clients,” concluded Ravi Subramaniam.

Issued by Australian Superannuation & Compliance Ltd     www.aussiesuper.com.au

Media enquiries   Mr. Joe Perri

Joe Perri & Associates Pty Ltd

Tel/fax:          +61 3 9324 0362

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Notes to the Editor:   In 1995, Ravi Subramaniam founded ASC, changing careers to study the SMSF landscape and build a service which gave control back to the investor. With his team, they structured a service which is all-encompassing, compliance orientated and simple.  Where others tried, ASC succeeded.

ASC is continuously praised by auditors, financial advisers, stockbrokers, solicitors and others throughout the superannuation and financial industry. Many of whom have chosen ASC to simplify the sometimes cumbersome administrative burden.  ASC enables them to focus on their areas of expertise and supports them in their commitment to the provision of exemplary client service.