Nabtrade launches SMSF establishment play

Larissa Waterson
— 1 minute read

NAB has announced its online trading platform Nabtrade will release a new SMSF set-up and distribution service for non-advised investors, but the bank maintains advisers will not be replaced.

Nabtrade will partner with Heffron SMSF Solutions to launch the new initiative that aims to “make it easier for investors to set up and administer their own fund”, including ATO registration, an ABN, tax file number and cash and trading accounts.

Speaking to InvestorDaily, NAB head of SMSF solutions Gemma Dale said the removal of the accountants’ exemption on 1 July 2016 changed the landscape for SMSF establishment and helped lead to the new service launch.


“We have some customers who know they want an SMSF, but they are not seeking comprehensive advice,” Ms Dale said.

“This has made it easier for them because they now don’t have to go through the whole advice process.”

Meanwhile, Heffron co-founder and head of customer Meg Heffron said the service was not designed to replace advisers or disrupt the advice industry.

Traditionally, our business has been all about working with advisers on their client’s SMSFs rather than direct with trustees so we’ve got a pretty good handle on the value advisers can add, but there’s always been a cohort of people who don't particularly want advice or don’t want it right now,” Ms Heffron said.

“This service is an enabler for people at the ‘I-don't-want-advice-yet’ stage. I guess where this service is different is that it’s a partnership between NAB, who has all the expertise in the banking product and the broking product side of things, and Heffron, who has all the SMSF expertise.”

Read more:

Hunter Hall ‘disappointed’ at handling of CIO exit

Bitcoin tipped to replace gold as portfolio staple

High-net-worth investors embracing robo-advice

US growth tipped to improve in 2017


Nabtrade launches SMSF establishment play
investordaily image
ID logo

related articles

  • Westpac slashes executive pay

    Westpac will slash executive bonuses and introduce a slew of risk management measures as it grapples with the impacts of coronavirus and reg...

  • Fed takes action – again

    The Federal Reserve is easing into its new role as the linchpin of global markets with a new repo facility and changes to capital requiremen...

  • Trump wants second stimulus

    President Donald Trump has called for another US$2 trillion in stimulus just days after a controversial hedge fund manager urged him to spen...

promoted stories

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.