As anyone who has ever visited London and ridden in an iconic Black Cab knows, London “Cabbies” are renowned for their intimacy with every nook and cranny of Central London. The test which the Cabbies have to undertake before they are permitted to drive a cab is called “The Knowledge”. It was initiated in 1865, and has changed little since. It is the world’s most demanding training course for taxicab drivers, and applicants will usually need at least twelve ‘appearances’ (attempts at the final test), after preparation averaging 34 months, to pass the examination.
“The Knowledge” emphasises two things- great factual knowledge, combined with the ability to act upon it in response to the particular needs of a client on a particular day- “where are they starting from?”; ” where do they want to go?”; “what is the traffic like?”
TSG’s knowledge of the Self-Managed Superannuation world has been built up over many years and through the practical experience of working with SMSF trustees to identify and address their goals and implementing the strategies required to achieve those goals.
When Scott Marcellos established The Super Group in 1996 he introduced a service model which has withstood the test of time and is now regarded as the benchmark for SMSF administration. This service model had the following characteristics which are unchanged to this day:
- A service agreement which clearly sets out the roles and responsibilities of both the Trustees of the fund and TSG, as the administrator of the fund;
- Standardised Fund documentation, including the Trust Deed and minutes, which clearly set out the processes to be followed by trustees to ensure fund compliance;
- TSG acts as the “mail house” for the fund, collating and retaining key fund documents while providing access for Trustees to the documents as required or requested;
- Constant, real time updating of fund accounts supplemented by monthly reconciliation and quarterly reporting to ensure any issues are identified and addressed and trustees are fully informed of the financial and tax position of their fund at all times;
- Completely independent end of year audit, facilitated by TSG but provided by a highly reputable third party.
While technology and regulatory changes have continued apace, TSG’s commitment to the highest service standards has remained. All our clients benefit from the consistency of approach and from the knowledge accumulated over nearly two decades of providing services and advice to SMSF trustees.