Frequently Asked Questions

• When was Heffron established?
• Who are the key people in Heffron?
• What is Heffron’s key point of difference?
• Does Heffron service clients across Australia?
• What SMSF services does Heffron provide?
• Can you select individual services? 
• Do I need to use the Heffron trust deed if I use the fund administration service? 
• Do I need Heffron to act as the mailbox if I use the fund administration service?
• How do I provide Heffron with details of my fund’s transactions if I use the fund administration service?  
• Do I need to use a specific bank account for my fund where I am using the fund administration service?
• What technical support will you provide to me?
• How does Heffron charge for its services?
• How do I become a client of Heffron?

Answers to frequently asked questions:

When was Heffron established?

Heffron commenced providing specialist SMSF services in 1998.  

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Who are the key people in Heffron?

Heffron’s CEO is Martin Heffron and the management team includes Meg Heffron, Jennifer Conn, Ben Smythe, Danny Mewett, Duane Pinches and Leigh Mansell. Rob Allan also heads up the Audit Services Division. Please click here for a comprehensive Overview of the key people.

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What is Heffron's key point of difference?

Heffron’s key point of difference is the depth and quality of the relationship that our clients experience when they deal with us. In particular, the behaviours of our staff in servicing our clients drive great personal experiences and sets us apart from our competitors. We are not a “wholesale” service provider but rather a firm that looks to engage closely with our clients. Our team wants to be the best they can in their chosen profession and this will be reflected in the quality of service you receive. 

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Does Heffron service clients around Australia?

Yes Heffron is a national firm and the majority of communication with clients is handled electronically. There are no geographical impediments to working with Heffron.

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What SMSF services does Heffron provide?

Heffron is Australia’s premium comprehensive SMSF service provider. Our SMSF services include: 

• Establishment
• Ongoing fund administration and compliance
• Ongoing fund maintenance and benefit payment documentation
• Audit
• Actuarial
• Technical support
• Training

Our objective is to meet all of our clients’ needs by continually enhancing and expanding our suite of services. We are your one-stop-shop SMSF service provider.  

Please click here to go to the SMSF services pages on our website for further information in respect of each of these various services.

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Can you select individual services?

Yes, you can select whatever SMSF service meets your needs.

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Do I need to use the Heffron trust deed if I use the fund administration service?

It is not mandatory to use the Heffron deed but is recommended as it allows for greater efficiencies when dealing with our fund administration team. 

When we takeover an existing fund, we review your existing trust deed as a matter of course and will advise you if we believe any urgent changes are needed.

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Do I need Heffron to act as the mailbox if I use the fund administration service?

It is not mandatory to use the mailbox service. Where we are not acting as the mailbox we will require details of the fund transactions to be sent to us regularly during the course of the year so we can continue to process these transactions. 

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How do I provide Heffron with details of my fund's transactions if I use the fund administration service?

Where we are not acting as the mailbox and can receive electronic data feeds in relation to the fund's assets (eg ASX listed securities, investment platforms, cash accounts, etc) we will look to arrange for an electronic data feed of the fund transactions into our SMSF accounting system regularly during the course of the year. 

Where this is not possible (eg direct property holdings) we require the fund transactions to be sent to us regularly during the course of the year (either hard copy or soft copy), so we can continue to process these transactions.

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Do I need to use a specific bank account for my fund where I am using the fund administration service?

It is not mandatory to use a specific bank account.

Where the fund is using a recognised bank account or cash management account, we will look to arrange for electronic data feeds of the bank account transactions directly in to our SMSF accounting system. We will also look to arrange for any of the fund’s tax payments to be automatically paid to the ATO as and when required (if this service is available with the relevant bank).

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What technical support will you provide me?

We believe that the breadth and depth of our team’s experience and expertise is second to none in the SMSF industry. As a client, you are able to tap into that experience and expertise in a way that best suits your needs. 

For example as part of the routine service you receive as a fund administration client, your single point of contact in the fund administration team will promptly respond to your enquiries in relation to the fund’s ongoing administration and compliance requirements and also assist you to understand the rules governing the operation of the SMSF. 

Our technical support service is designed for SMSF professionals looking for a high quality technical resource where they get confirmation that a particular transaction is permitted by the relevant law or practical input on how to solve a specific superannuation problem.

Finally we also provide clients with access to technical support tools such as our electronic newsletter Heffron Super News or our Technical Support Library (Member Area of our website).

We are very confident of being able to provide whatever technical support in relation to SMSFs that you require.

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How does Heffron charge for its services?

Heffron charges a fixed dollar fee for all of its services. We strongly believe that the size of your SMSF should not determine the cost you pay for administration and compliance services. 

For our fund administration service we charge bi-annually (one quarter in advance and one quarter in arrears) and invoice in October and April via a direct debit arrangement with the fund’s bank account. 

For all other services, the fee is invoiced when the relevant service is requested by the client (eg establishing a new SMSF).

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How do I become a client of Heffron?

The first step is generally an initial phone conversation or face to face meeting with a Heffron representative. In this meeting we look to gain an understanding of your needs and what you are looking for in a relationship with a firm like Heffron. At the end of the meeting, if you are keen to proceed, we will provide you with a proposal outlining how we would look to meet your SMSF needs. 

At that juncture you may also wish to visit our head office and we would strongly encourage such a site visit. 

The final step to complete the process involves both parties entering in to either a Letter of Understanding and/or Services Agreement. These documents articulate how the relationship will work between the parties, including pricing, etc.

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