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The SMSF division of AMP, SuperConcepts, has wholly acquired a firm which provides outsourced services to hundreds of accounting firms.
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Outsourcing firm for accountants sold in major deal
14 February 2018
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SuperConcepts confirmed today it acquired MORE Super, a firm that provides SMSF outsourcing services to small and medium-sized accounting practices.
MORE Super has about 100 staff operating on a transnational basis. In the 2017 financial year, it administered and audited about 5,000 SMSFs for around 200 accounting firms.
The move follows SuperConcepts' acquisition of outsourced services provider BPO Connect, which was the primary driver of growth for SuperConcepts in the 2017 financial year.
Chief executive of SuperConcepts Natasha Fenech, who has led several acquisitions since she took the helm in 2013, is bullish about the growth opportunities of this latest addition.
In an official statement, she said both the trustee and intermediary market are in SuperConcepts’ sights with this acquisition.
Founder and CEO of MORE Super Michael Pease — who is also an accountant — will be joining the SuperConcepts leadership team as general manager of international operations.
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Mr Pease also made note of eyeing both the intermediary and direct consumer market of trustees.
“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,” Mr Pease said in a statement.
SuperConcepts said MORE Super will continue to operate under its own brand name and with its existing team of employees.
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