Financial advisers and their clients now have an alternative to the traditional self-managed superannuation fund, with Sargon partnering with an $11.5 billion platform to launch a small APRA fund.
Sargon has partnered with HUB24 to provide advisers and their clients with access to the same benefits of a SMSF without the need for an individual to act as trustee.
Sargon will act as trustee, with the SAF developed and integrated with the HUB24 platform, enabling access to a broad range of investment options.
Sargon said SAFs have traditionally been expensive to establish and maintain, but the Sargon SAF has been redesigned to be cost-effectively run via its trustee cloud infrastructure.
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"A SAF can be highly beneficial for ageing members who may no longer have the desire or capacity to navigate complex regulatory requirements and financial decisions," Sargon head of business development Andrew Rutter said.
"Now, they have the option to pass the baton - both in terms of trustee responsibilities and operations - to Sargon, a licensed trustee that oversees and administers superannuation funds as its core business."
The SAF also provides reliable and accessible estate planning, Rutter said.
"Members can rely on the trustee to carry out and pay their death benefits according to their instructions. This is particularly important for members who have a blended family, or in cases where a member faces potential residency issues if, as the SMSF trustee, he or she is located offshore," he said.
Also commenting, HUB24 director of strategic development Jason Entwistle said: "We are committed to continually providing advisers with product choice to enable them to meet the needs of their clients."
"We are pleased to be working with the team at Sargon to implement a customised solution that provides an alternative for clients looking for the flexibility of a SMSF solution, without the added administrative burden."