Wang’s team is also digesting the acquisition of SmartSuper, the selfmanaged super administration platform which takes Perpetual to $3.5 billion under SMSF administration – that is just 1 per cent of Australia’s largest and fastest-growing super segment, but amazingly, according to Wang, makes Perpetual the largest player. “The SmartSuper acquisition works because they had an unbundled SMSF product, we didn’t, but what we could add was the distribution network to take it to more advisers, particularly as the regulatory oversight of SMSFs continues to tighten.”

Wang said another outcome of the review was that Perpetual reaffirmed its strategy of retaining in-house staff to run its unit registry system, which sits on Bravura’s Sonata Business Services workflow management and document imaging platform.