Technology firm Topdocs has integrated its online portal with Macquarie’s cash management account (CMA) process, allowing advisers to set up SMSFs and apply for CMAs at the same time.
With one in four SMSF trustees currently using Macquarie’s CMA, Topdocs has facilitated the service to remove the need for advisers to log in and out of separate websites, streamlining the services.
“We realised that providing advisers with the capability to apply for this account while setting up an SMSF would be a natural step towards developing greater industry efficiencies,” said Topdocs director and head of technology Michael Spakman.
“We know that meeting the needs of SMSFs is very important to advisers and we have an ongoing focus on reducing the time it takes them to establish a Macquarie CMA account for their clients. Advisers are looking for connectivity between products and their office, and this initiative further demonstrates our commitment to putting this into practice," Macquarie Banking and Financial Services head of cash product Peter Forrest added.
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