Two leading self-managed superannuation fund auditors have announced their intention to merge.
ASF Audits, an Adelaide-based SMSF Auditor with more than 20 years' experience working with financial advisers, will merge with Super Auditors - a Newcastle based SMSF auditor led by director Shelley Banton.
"We are delighted to welcome Shelley and the Super Auditors clients into ASF Audits," ASF Audits managing director Richard Smith said.
"There is a great deal of synergy between the two firms, and we share a vision for the future based on independence, technology and importantly, customer service."
Banton added: "I have known Richard for many years, and have always been impressed by his approach to business, so when the opportunity arose to merge the firms, it was an easy decision."
Banton will be joining the ASF Audits management team as executive general manager, technical services, operating from Newcastle.
Collectively the merged firms will manage in excess of 12,000 SMSFs.
About 600,000 SMSFs are currently in operation nationally, managing $653.8 billion in assets, according to the latest statistics released by the Australian Prudential Regulation Authority and the Australian Taxation Office.
The average balance of an SMSF now exceeds $1.1 million, with the average account balance for an SMSF member sitting at about $594,000.