SuperConcepts, a leading provider of services for Self-Managed Superannuation Funds (SMSFs) is expanding Adelaide operation in a move which will create 52 new highly skilled jobs in the State’s financial services sector.
SuperConcepts is one of the largest employers of SMSF professionals in Australia, employing more than 360 people who provide administration, software and education services to more than 55,000 funds.
According to the Australian Taxation Office’s statistical report, the SMSF sector is currently the largest superannuation sector by assets with approximately $600 billion and is expected to grow to more than $2.5 trillion by 2035, with the majority of post retirement funds expected to be held in SMSFs.
The South Australian Centre for Economic Studies has calculated that the net present value of gross state product impact over the first 10-years of the project would be $79.7 million.
CEO of SuperConcepts Natasha Fenech said the company was excited to be expanding it’s presence in South Australia and contributing to the growth of the financial services industry in the region.
“This agreement represents another step forward for the SuperConcepts business and will be a foundation for further growth and investment in South Australia,” Ms Fenech said.
“We will continue to invest to expand and evolve our offering to both build our presence in South Australia and so we can deliver greater efficiency, both for our business, and for our customers through innovative, simple and cost effective solutions.”
CEO of the SMSF Association John Maroney said the Association is proud to have been based in Adelaide since 2003 and is also proud to have been associated with the SuperConcepts businesses for most of that period.
“We see continued growth opportunities for the SMSF community in South Australia and look forward to the expansion of the region as an SMSF hub in the years ahead,” Mr Maroney said.