Self Managed Superannuation is the fastest growing segment of the superannuation industry. This is a space many financial planning firms would love to be, if only they had the time and the expertise.

Dover provides its representatives with the services and support needed to create, maintain and develop their own SMSF administrative service practice, allowing them to grow their practice without taking on any additional fixed costs or any undue risks.

The Dover SMSF support service includes free SMSF set up, low cost SMSF administration, audit services, tax return and tax agent services, and extensive technical and marketing materials to allow you to create a leading edge SMSF service for your clients.

If you have a SMSF practice, or are thinking of establishing one, speak to Dover.

Dover offers accountants limited proper authorities to advise clients on SMSFs and related superannuation matters. The annual fee is just $3,000 per annum plus GST. There are no hidden charges and advisors can access the resources of one of Australia's largest SMSF administration services as well as Dover's specialist SMSF solicitors.

This special service is designed for accountants who practice in the SMSF space but who do not want the hassle and cost of a full proper authority from a full service AFSL.

(The Government announced on 26 April 2010 that the accountant's exemption for provide advising on the setting up and shutting down of SMSFs without an Australian Financial Services Licence (AFSL) will be abolished. This means accountants who are not licensed will in effect be barred from advising clients on SMSFs.)

The SMSF licence service is the same as our full service except that the advice is limited to superannuation including setting up and closing down self-managed superannuation funds.

Contact Florence Tee on 03 9583 6533 or florence@dover.com.au for more details on how you can advise your clients on SMSFs now.

How much income can your practice make? How much value will be added?

The average retail accounting fee (audit and annual accounts) for a SMSF is around $2,500 a year. Consulting fees and investment advising revenue are separate, and depend on your firm and how it services its clients. On average these fees are typically around $2,000 per year. Taken together, these two amounts represent total revenue of around $4,500 a year per SMSF client.

If you have 50 SMSF clients you should aim for revenue of around $225,000 a year from these clients.

Dover can complete the accounting, tax, compliance and audit work for $50,000 a year, ie $1,000 per SMSF per year, leaving you with $175,000 extra profit a year.

The best part is that your most significant cost - the Dover fee - is a variable one. You only pay when there is work to be done - work that your client will in turn pay you for. Your first SMSF client is a profitable one, and things just get better from there.

What if you already have a SMSF practice?

Good accounting staff are hard to find and there is desperate shortage of experienced SMSF experts.

Dover SMSF Support Services means you have an unlimited number of experienced SMSF experts on tap and there is no cap on the number of SMSFs you can establish and service appropriately.

You and your team are freed from the routine compliance tasks connected to SMSFs and are free to do more interesting and more value creating work for your clients, confident that your SMSF clients are in good hands.

This allows you to make more profit and increase the value of your practice even further.