Welcome to the Mclowd Practitioner Update.
Introduction
At its peak the annual growth rate of the SMSF industry (as measured by net fund establishment) was in excess of 10%. But as this chart illustrates, that growth is now in the low single digits.
That metric indicates an industry that is maturing, and as it does so keeping a tight rein on costs will become more important.
Docscentre Alliance
Mclowd has partnered with listed financial services company Sequoia (ASX:SEQ) to provide Practitioner users with white-labelled access to the Docscentre platform.
This alliance will allow us to begin replicating the document and ASIC compliance offerings of incumbent vendors:
- Without requiring any capital expenditure on our part
- Thereby ensuring we remain focused on improvements to the core software
Commenting on the product partnership Managing Director of Sequoia Professional Services Brent Jones said: “Mclowd has more than 800 registered Practitioner users. Irrespective of whether they are currently active or otherwise, we look forward to providing those firms with a high quality and cost-effective document service, alongside our new ASIC solution.”
Telephone Support
As we flagged in the most recent update, Practitioners now have access to onshore telephone support.
Simply log a ticket (indicating that a callback is required) and one of our friendly Team will be in touch.
An inbound number will be enabled for FY22.
Introductory Webinar
Our next Introductory Webinar is scheduled for Wednesday May 26th at 12:30pm AEST.
Along with detailed guidance as to the current functionality and recent deployments, attendees will be taken through:
- The Docscentre solution (as to both document management and ASIC compliance)
- The work we are doing with machine learning in order to deliver improved automation
Recent Deliverables
March quarter Release Notes are available on the website.
Conclusion
Nearly 150 firms and sole practitioners now rely on Mclowd to provide a technology platform for their SMSF clients.
Whether it is a zero-capex product extension or the deployment of machine learning, the Mclowd Team and I will continue to seek out and deliver lower cost outcomes for the benefit of both our active clients as well as the prospective user base.
Regards
Ashley Porter
Managing Director
Mclowd Group Pty Ltd