Most businesses are aware of the possibility of having their clients stolen away from them. Though, financial planners are one of the professions who are perhaps more aware than most. Every time a client’s details are handed over to an accounting firm for their SMSF accounts to be created they risk losing that client. Along with the potential loss of a client comes the loss of potential income. Until BOSS’ new SMSF outsourcing service, this is something that has happened over and over again.
With this service, financial planners can work with BOSS’ virtual accountants directly, taking away the worry of leaving their clients to work directly with an accountant. As well as feeling secure that their clients will stay their clients, BOSS is offering a white label service so with the addition of the financial planner’s logo, they get a completely discreet service where everything SMSF is taken care of, account setup, prep work and lodgement of tax returns, record keeping, drafting letters, preparing work papers and SMSF accounting reports for an auditor to work on (and BOSS can also organise an auditor).
This smooth process means financial planners can sit back and make sure their two jobs are done; looking after their own client relationship and handing over data to BOSS to do the rest. SMSF outsourcing just got much more appetizing.
Lee Court, BOSS marketing and sales manager says, “A lot of our clients talk about how they are all too familiar with engaging an accounting firm to work on their client’s SMSF accounts, but how they missed out on making any money on the account setup and ongoing administration. Some of our clients like to pass on some of the savings to their own clients from the wholesale prices they get, where others add their own margin and a healthy profit. Both ways are fine as the service is so discreet. We’ve found it’s working really well and a lot of financial planners seem to gravitate towards this offer.”
Though SMSF outsourcing is not entirely new, the chance for financial planners to have a relationship with an outsourcing company and thereby bypass an outsource accounting firm and also receive wholesale prices at the same time, is quite a unique opportunity.
About BOSS, BACK OFFICE SHARED SERVICES PTY LTD
BOSS (Back Office Shared Services Pty Ltd) was founded in 2004 to provide skilled accountants and bookkeepers on a full-time, part-time and casual basis to commercial enterprises, accounting and financial services firms in Australia.
BOSS India is a subsidiary of BOSS Australia and runs just like an ultra-modern paperless Australian public practice because the Director and Accountancy Practice Principal, Peter Vickers, has been operating his own successful Australian public practice for over twenty years.
