Simpler Super and the SMSF administration pathway

Many SMSF trustees first dealt with Simpler Super, formally connected to Simpler Super Pty Ltd (ABN 35 638 225 680), as the original business involved in supporting SMSF administration and related client processes.

In client documentation, the Financial Services Guide (FSG) sets out the entities involved, the services described, how those services were delivered, and the complaints pathway. The FSG is marked Version 1.1 and dated 5 October 2021.

What the Financial Services Guide says

Who issued the FSG and who was the authorised representative

The FSG states it is issued by APT Strategy Pty Ltd (ACN 058 368 362; AFSL 226898) and its Authorised Representative, Simpler Super Pty Ltd (ABN 35 638 225 680; Authorised Representative No. 001280125).

Other documents trustees may receive

• Letter of Engagement – outlines scope of advice/financial services and fees.
• Statement of Advice (SOA) – confirms personal advice recommendations in writing.
• Record of Advice (ROA) – used for certain ongoing/subsequent advice and available on request.
• Product Disclosure Statement (PDS) – provided where disclosure is required under the Corporations Act 2001.

Financial services described

The FSG states APT Strategy is authorised to provide financial product advice and deal in financial products for retail clients across multiple product classes, including superannuation. The FSG also states Simpler Super (as authorised representative) is authorised to provide general advice to retail clients in relation to specified products, including superannuation.

Fees, charges and commissions

The FSG describes a quarterly fee paid to APT Strategy by authorised representatives to meet costs and AFS licensee obligations (including professional indemnity insurance), and also describes a potential Licensee Administration Fee (LAF) where included in product recommendations and disclosed in advice documents.

Complaints pathway

The FSG sets out a complaints process and notes that unresolved complaints may be escalated to the Australian Financial Complaints Authority (AFCA). The FSG also references ASIC as an information/complaints contact.

Why this matters for trustees

• Match historic emails, invoices and forms to the correct entity and timeframe.
• Interpret what was stated in disclosure documents (including the FSG) at the time.
• Identify the complaints pathway described at the time.
• Build a clear timeline of administrative handover events.

This article is general information only and is not financial or legal advice.