Stockspot integrates with Class to provide accountants a direct data-feed for SMSFs
The integration will provide SMSF accountants and their clients with a direct data connection from Stockspot to Class enabling income processing and enabling investment tax reporting. Accountants will be able to receive a daily data feed which includes their client’s Stockspot portfolio investments, capital gains, dividend statements and franking credits. It will also automatically generate tax summary statements, cutting down on hours of administration and analysis of taxation data.
Kevin Bungard, CEO of Class, said:
“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”.
Commenting Chris Brycki, Stockspot founder and CEO said:
“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 for their SMSF clients using Stockspot.
“Stockspot’s highest growth portfolio has returned over 8% per annum since 2014. We expect SMSFs will be one of our largest growth areas in the next 12 – 18 months as they seek access to global shares, franked dividends and impartial investment advice”.
Class pioneered direct-connect data feeds and now offers one of the most extensive ranges of direct-connect feeds for the SMSF industry.