SuperConcepts acquired a self-managed superannuation fund administration provider in an attempt to expand its market share.
MORE Super joins SuperConcepts' growing network comprising AMP SMSF, Ascend, Cavendish, SuperIQ, superMate and yourSMSF.
MORE Super will continue to operate under its own brand name with its existing workforce and clients. Its founder and chief executive Michael Pease will take on the role of general manager of international operations.
Established in 2004, MORE Super has a client base of more than 200 accounting and financial planning practices. It administers and audits over 5000 SMSFs and has about 90 employees across Canberra and Brisbane.
SuperConcepts chief executive Natasha Fenech said the acquisition is part of the firm's strategy to further build its market share and efficiency as Australia's fast growing SMSF market.
"I'm looking forward to the opportunities that aligning our two businesses will bring and leveraging competencies to offer a truly unrivalled business value proposition to SMSF intermediaries and trustees," Fenech said.
"MORE Super is a high-quality business, with an excellent track record of delivery and strong international capabilities," she added.
Pease commented: "I am excited that MORE Super will be joining a company that has the scale, access to capital and mandate required to drive the SMSF industry and create genuine, feasible solutions for the intermediated and direct-to-trustee market."
SuperConcepts recently launched a new document management functionality for clients using SuperMate as part of a huge digital transformation strategy that will fundamentally redesign the foundations of the business.
Users can scan or email documents which are then automatically read, categorised and filed via the new intelligent document management system. The new system will help auditors with the annual audit of funds as documents are text searchable.