NAB is collaborating with an SMSF administration provider to launch a new SMSF set-up service.
Through nabtrade, Heffron SMSF Solutions will provide what NAB describes as a "fully featured establishment and administration service" for SMSF investors. It facilitates ATO registration, cash and trading accounts and ongoing admin through one online form.
NAB said its SMSF establishment service was different to market competitors because it does not take nor pay commissions or charge transfer payments.
NAB general manager of self-directed wealth Nathan Walsh said: "We know how much of a burden compliance and paperwork is for investors. We want to not only make it easier for investors to set up and administer their own fund but also to create more value for customers."
"To ensure transparency, the costs of the NAB-Heffron service are upfront, so customers can see what they are paying for," Walsh added.
Heffron SMSF Solutions co-founder Meg Heffron said: "More than 30,000 self-managed super funds are set up in Australia every year, and through our partnership with NAB we can help more people through this process. We're pleased to be working together.''