SEARCH
Technology still unable to influence price models
Technology still unable to influence price models
There is a misconception, particularly within the self-managed super space, that technology will put pressure on current pricing models, according to administration platform provider SuperGuardian and Xpress Super.
Olivia Long, SuperGuardian and Xpress Super chief executive, said technology is not yet able to compete with the skills and expertise of SMSF trustees.
"Technology still has a long way to go before it can put pressure on the pricing for the services provided by accountants and administrators on the basis of 'automation'. It's just not that simple," she said.
Ms Long pointed out that the cost of using software to achieve automation has increased from $8 to $250 per fund.
Therefore, moving to more expensive software will need to achieve notable efficiencies for that to result in any fee reductions.
"So although other industry practitioners may be keen to apply the pricing pressure, they might be unpleasantly surprised about how far we have to go before this can be truly achieved," she said.
Moreover, Ms Long said a large amount of data feeds are still unsupported by most software.
"To achieve 100 per cent automation at this stage of the game would involve limiting the platforms and products trustees use in order to achieve 100 per cent data feeds."
Ms Long added: "Given one of the appealing factors of SMSFs is the flexibility of products/platform/investment, I don't think we're going to achieve the perfect automated model any time soon."
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Broker Daily Business Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Relative Return
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
