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Stockspot integrates with Class Super
Stockspot integrates with Class Super
Robo-adviser Stockspot has announced that it will integrate with Class Super, a cloud software provider for self-managed super fund (SMSF) administration.
The integration will facilitate a direct data connection between Stockspot and Class, which Stockspot said will allow accountants using Class to access a daily data feed from Stockspot portfolios and enable income processing and investment tax reporting.
Stockspot also added that tax summary statements can now be automatically generated, "cutting down on hours of administration and analysis of taxation data", which Stockspot chief executive Chris Brycki said would greatly assist advisers.
"Managing tax administration can be complex and very time consuming for SMSF accountants; the automated feed from Stockspot to Class Super will save accountants hours of analysis and administration work at tax time," he said.
Robo-advice's projected rate of growth has caught the attention of SMSF investors, according to Class chief executive Kevin Bungard.
"Robo-advice is the fastest growing areas of retail investment with total assets managed by robo-advisers pegged to grow to US$2 trillion by 2020; SMSF investors are increasingly open to roboadvice and Stockspot is a pioneer in this space," Mr Bungard said.
The daily data feed will include portfolio investments, capital gains, dividend statements and franking credits.
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