Super Concepts acquires Super Design
Super Concepts, a self-managed superannuation fund (SMSF) administrator, has acquired SMSF administrator Super Design as part of its strategy to grow its share of the expanding SMSF market.
Super Concepts also indicated that other acquisitions and alliances would follow the Super Design purchase, providing Super Concepts with better benefits via economies of scale and revenue synergies.
According to Super Concepts, competition in the SMSF marketplace now and into the future will require administrators to have sizable scale.
Super Concepts’ strategy is to achieve this through both organic growth and acquisitions to provide an one-stop service to meet all the needs of SMSF clients – accountants, advisers and direct clients.
Super Concepts’ size and systems would enable acquisitions to be easily bolted on to provide better service to clients in an efficient manner.
Super Concepts and Super Design have similar cultures which will enable an easy integration and ensure all revenue synergies can be pursued.
According to Super Design, the company by joining Super Concepts would form better SMSF administrator in Australia with its existing clients gaining access to enhanced systems and technical support with the increased scale.
Super Concepts has good culture and the sale of Super Design and the creation of a larger group will ensure Super Design to participate in the growth opportunities being experienced in the SMSF on a long-term basis.
According to ING, the acquisition by Super Concepts – a fully-owned subsidiary of ING - of Super Design would form the foundation of an aggressive growth strategy which would benefit all stakeholders.
Super Concepts runs an independent business to ING which targets its own clients and markets and is continuing to make significant gains in these areas.
At the same time the senior management team of Super Concepts has been working closely with ING to develop a better SMSF platform for ING advisers by combining the administrative and system strength of Super Concepts with the distribution/brand strength of ING.
23-Aug-2007