SMSF service provider SuperConcepts is expanding its operations in Adelaide with help from the South Australian Government.
The AMP-owned business will receive $1.6 million in funding via the state government's Economic Investment Fund to increase its South Australian footprint and contribute to the growth of financial services in the region.
The project is expected to create 52 new jobs and generate more than $79 million over a 10-year period, with the aim to secure larger premises to accommodate new staff.
SuperConcepts chief executive Natasha Fenech said the agreement represents a foundation for further development and investment across the state.
"We will continue to invest to expand and evolve our offering to both build our presence in South Australia and so we can deliver greater efficiency, both for our business, and for our customers through innovative, simple and cost effective solutions," Fenech said.
The SMSF Association, which is headquartered in Adelaide, welcomed the partnership, with chief executive John Maroney saying the industry body is thrilled to see the South Australian Government providing financial support to the region's growing SMSF sector.
"We see continued growth opportunities for the SMSF community in South Australia and look forward to the expansion of the region as an SMSF hub in the years ahead," Maroney said.
South Australian Premier Jay Weatherill said the move by SuperConcepts demonstrates confidence in the state's future, while Minister for Investment and Trade Martin Hamilton-Smith added that he is also pleased to offer the grant.
"South Australia provides a highly attractive, profitable location for financial and business services operations," Hamilton-Smith said.
"With the SMSF Association already headquartered in Adelaide, SuperConcepts' expansion in South Australia will see Adelaide become a national hub for SMSF administration and develop the next generation of industry experts right here on our doorstep."