SMSF
Class and Countplus partner

Software provider Class inked a partnership with accounting and financial advice network Countplus for the provision of self-managed super funds and wealth accounting software.

Countplus practices will now have access to centralised billing and supporting services when using Class Super and Class Portfolio.

Class will also provide Countplus practices with resources for implementation assistance and transitioning portfolios to Class.

Class chief executive Kevin Bungard said the agreement presented a unique opportunity for Countplus practices that had yet to try Class or were using Class software but had not transitioned all their portfolios.

"This is a fantastic opportunity for Countplus practices to move to a single cloud-based software platform and take advantage of the dramatic efficiency gains delivered by Class Super and Class Portfolio," Bungard said.

"With accountants under increasing pressure from regulators, clients and competitors to improve their processing and reporting of SMSFs, it's critical to have the right systems in place to meet these challenges."

Commenting on the development, Countplus chief executive Matthew Rowe said Class software was already widely used in the Countplus network.

"This agreement acknowledges our ongoing relationship with Class, the process efficiencies delivered to our firms from Class software and our view of the benefits that cloud-enabled real time solutions provide to our clients," Rowe said.

The move follows similar partnership deals with Class from two boutique SMSF service providers - A.S.A.P. Advice and Super Know How - to help scale audit and compliance services.

The partnerships, announced last month, were said to help clients reduce the cost of complying with financial licensing laws, following the repeal of accountants' exemption from the AFSL regime last year.

At 31 December 2017, SMSF market share for Class had increased to 21.7% of the total industry market share of 589,000.

Read more: CountplusPartnerSMSFClass Super
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