We have been using BGL’s Simple Fund 360 to process SMSF’s for accountants and financial advisers across Australia for over 14 years. Why? Well, it just works, and it works fast. Whilst many of our competitors chose to offshore the grunt work to reduce costs, we chose to lean in on the technology to keep all processing and accounting in Australia. By keeping this work onshore, we’ve kept our client’s money and ultimately the trustee’s retirement nest egg here in Australia and we’ve also supported our SMSF industry which we think is important. So, the ability to have access to software that is efficient is essential to us keeping our service price competitive. One BGL offering that is gaining interest from our clients due to the extensive lockdowns across the country is Engage by BGL. As accountants and financial advisers are finding it difficult to connect with their clients, they are turning to applications that can help replace the face-to-face relationship that has been so effective for engagement in our industry. I recently caught up with BGL’s Head of Simple Fund 360 Matt Crofts to find out more about Engage by BGL and how it can benefit accountants and financial advisers. Here are some of the takeaways from our chat.

What is Engage by BGL?

“Engage by BGL is a next generation mobile app to make your SMSF business stand out from the crowd by helping you to better engage with your clients. The app is available on Apple and Android and the features include member allocation overview, investment and pension dashboards, contribution tracking and gives the trustee the ability to communicate with their Adviser. With well over 150 days since the first lockdown went into effect in Australia, many accounting and planning businesses are still coming to terms with how to best operate and Engage by BGL arms the Adviser with a powerful tool to help continue their close relationships with their clients.”

How does Engage by BGL help connect Advisers and clients?

“One of the biggest challenges I hear now is how to better stay in touch with your clients. With so many accountants and their clients’ businesses facing stay-at-home regulations, keeping your clients engaged and interested in their SMSF can be more difficult. Firms are busy with their own staff wellbeing at present, which they need to prioritise to stay in operation. Yet as the lockdowns reduce, there are those firms that have taken this opportunity to switch to more digital mediums, growing their business with the help of mobile-friendly assistant apps that help their client feel more engaged with their SMSF. Engage by BGL is one possible SMSF solution. Engage by BGL is a mobile app that will enable clients to see a daily position of their investments and total net worth, which helps clients better stay on top of their investment strategy. They can drill into the data and the investment allocation can be revalued every day. Investments can be broken doing into sectors and compared to benchmarks, so your clients can then have a better conversation with you as to the performance of their investments. The app itself creates opportunities for the trustee to not only stay compliant but also ask timely questions about their investments with their adviser. They don’t need to wait for monthly or quarterly reports to see their performance. With daily information they can act quickly to prevent losses or take advantage of opportunities.

Pensions are also an important part of running an SMSF in retirement. Pension minimums need to be monitored. With Engage you can improve your SMSF compliance and avoid costly mistakes with easy to digest visual pension dashboards, showing minimums and reduced minimums.  Clients are also able to check member balances and better track their contribution limits and ensure they are maximising their tax concessions.

Lastly, you can also use engage client query functions to help trustees respond to unknown transactions or take photos of documents with simple drop-down choices. There is really an opportunity at present for advisers to help their clients go digital whilst continuing to build a relationship with them.  

BGL Engage also supports trusts companies and individual taxpayers’ CGT-based investments such as land, shares and other exotic assets. The app allows advisers to now provide a complete wealth picture for their clients, not just their SMSF.

We are finding more and more of our clients are looking towards technology to add value and improve customer experience and Engage by BGL certainly does both.”

If you are interested in how easy it is to get started with Engage by BGL contact us here – Contact – Keep It Simple Super. You can find out more about BGL by visiting their website – www.bglcorp.com.au