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Macquarie improves SMSF offering

by Staff Reporter11 minute read

Staff Reporter

Highlighting its commitment to the self-managed super fund space (SMSF), Macquarie has enhanced its web-based services to provide clients with online access to 10 years worth of Macquarie Cash Management Account statements.

This free service enables advisers, accountants, trustees and fund administrators to access up to 10 years of historical statements across Macquarie CMAs for their clients, to assist with tax administration.  

The historical statement information is stored securely within Macquarie’s online portal, removing the additional administration burden often faced by advisers or accountants when having to track down or store historical records.


Peter Forrest, head of cash product, Macquarie Adviser Services, said this reporting enhancement was driven directly by feedback from investors, advisers, accountants and fund administrators.

“We know that keeping on top of administration, with its many different compliance requirements, is a constant challenge, therefore a core focus for us is to ensure we are doing everything we can do to support investors, advisers, accountants and fund administrators. That’s why we continue to invest in our online services with enhancements like this new free service offering 10 years of historical Macquarie CMA statements at the click of a button,” he said.

“This is a simple solution that can make a big difference to the time taken to prepare SMSF and tax reporting, evidenced by the fact that one in every four SMSFs uses a Macquarie CMA as its cash hub.”

Ron Lesh, managing director, BGL Corporate Solutions, said: "This simple historical reporting enhancement can have a significant positive impact on the time spent by an adviser or accountant on SMSF administration and reporting.

“Traditionally it can take days to source the level of detail and history required for SMSF reporting.  Historical reporting is often considered to be the missing piece of the puzzle for accountants and advisers,” he said.

“We provide a comprehensive suite of compliance software to make the lives of accountants and advisers easier, and this latest online enhancement by Macquarie adds another simple yet invaluable reporting feature.  The integration of client data from Macquarie CMAs and relevant reporting, like this enhancement, assist users of BGL software to drive down the costs associated with fund administration and auditing.”

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