Class Ignite Live Blog Day 2

As #ClassIgnite2023 comes to a close, we’re reflecting on two incredible days filled with expert insights, inspiring keynotes and invaluable connections.

Beginning with Tim Steele’s CEO Welcome to a wealth of sessions on key findings from the 2023 Class Annual Benchmark Report, strategies for navigating regulatory changes, and more, we’ve explored the very best in the world of self-managed super funds. We also delved into SMSF property investments, essential estate planning, the latest in Class and NowInfinity product updates and much more.

Stay tuned for post-conference updates in the coming days. We’re excited to continue this journey of learning and growth with you. Thank you to our sponsors and customers for supporting this incredible event.

Would you ever live on a deserted island? How about marrying a stranger in Vegas? Class Ignite keynote speaker and best-selling author Sebastian Terry believes passion is the driving force for personal and professional development. He’s inspiring our attendees to shift their mindset, set meaningful goals and embrace change for growth and success.

Sebastian is a changemaker, best-selling author and thought leader. Now living in LA, California, Seb still has a cheeky Australian accent and his passion for life is evident in everything he does, from surfing and traveling, to writing and keynoting.

Join Seb and be inspired to shift your mindset, inspire action and transform your workplace.

Why have only a quarter of SMSF trustees consulted an investment adviser in the past year? According to recent Investment Trends research, there’s a growing pool of unmet advice needs driven by trustee overconfidence. But for accountants and advisers working together to service SMSF clients, there’s a huge opportunity to grow their revenue and client books through two-way referral arrangements. 

Dr Irene Guiamatsia is a seasoned researcher with two decades of experience spanning academia, market research and financial regulation. Irene holds a PhD in Aerospace Engineering from the University of Toronto and has previously held research roles at ASIC and the Imperial College London. 

Benefit from Irene’s deep insights research on the behaviours, buying preferences and expressed needs of investors and financial advisers in Australia and around the world. 

Up next at Class Ignite 2023 in Room 2 we have Tim Miller from Smarter SMSF delving into some of the spouse contribution opportunities now available for SMSF clients. From contribution splitting to recontribution strategies, there are plenty of ways to help clients rebalance their super to account for the transfer balance cap and total super balance restrictions.

With an increase in the general transfer balance cap and with one eye on the Government’s proposal to introduce an earnings tax on those with more than $3 million in superannuation, is it time to start looking at equalisation strategies between spouse accounts? Leran about issues including:

• Carry-forward concessional contributions and lower account balances
• Spouse Contribution splitting
• Spouse contributions including the use of re-contribution strategies
• Maximising the transfer balance cap

If you missed it, Katie Timms (Director, RSM) talked about the complexities of SMSF estate planning. Attendees gained insights into navigating multi-generational funds under the new 6-member rules. Strategies for resolving conflicts between members, handling loss of capacity, and dealing with divorces were discussed. This valuable knowledge empowers advisers to guide clients effectively through SMSF lifecycle decisions.  

A recording will be made available for registered conference attendees after the event. Watch and learn how to help your clients get out of super by using current financial data and making plans in advance. 

Join Liz Westover (Partner, Deloitte) in Room 1 as she demystifies SMSF property investment. Understand essential rules, from ownership options to LRBA intricacies. Learn from common trustee pitfalls, like missing Business Real Property definitions or skirting arm’s length rules.
#SMSFProperty 

Liz Westover is the National SMSF Leader at Deloitte, responsible for the firm’s SMSF service offering and providing compliance and advisory services to the firm’s clients. She is a regular commentator on superannuation and self-managed super funds (SMSFs) having presented and authored articles on these and related issues for many years. 

While a common investment choice for SMSF trustees, property investment isn’t without compliance risk. Don’t miss Liz’s expert insights, including an update on what SMSF auditors will want to see and where the ATO is focusing their attention. 

Don’t forget to come and meet the Class team during the lunch break.

Check out a demo of Class or NowInfinity solutions, ask a burning question or simply get some hot tips on how to get the most out of your software kit.

Our friendly team is on hand to assist with any queries, big or small.

In this insightful session, Kritika explored how Class Trust Automation simplifies trust accounting. From automation to streamlined reporting, it’s revolutionising the trust industry. If you missed it, catch up with Kritika and the team at the Class stand to learn more and get a product demo.

Happening now – Craig Apps, Chief Product and Innovation Officer at HUB24, is talking about the future of Artificial Intelligence and Machine Learning in financial services. He says we need to find a healthy balance between being curious about the opportunities in emerging technologies and being mindful of the potential repercussions. We must proceed with caution and learn how to understand and work with the technology to deliver the outcomes our clients want.

Craig has more than 30 years’ experience in financial sector data, technology and innovation. He has been immersed in AI and its applications in the financial advice industry for more than five years and is in demand as an expert on this topic. Don’t miss this fascinating presentation.

A recording will be made available for registered conference attendees after the event.

Happening now at Class Ignite 2023, Aris Liacopoulos from myprosperity is discussing the shifts and trends in client engagement. With 45.9% of businesses saying theat customer experience is their top priority for the next five years, Aris is expecting to see a surge in businesses focusing on digital engagement and cyber security to sustainably grow their business.

Join in to learn how you can streamline the customer experience and grow your business with the latest client insights and technologies.

Coming up next at Class Ignite 2023, could family trusts be the answer to the proposed tax changes for super accounts with more than $3 million? Matthew Swieconek and Jacqui Gilligan from Findex are talking about the benefits of discretionary trusts and the tips and traps financial planners need to be mindful of when using this structure with their clients.

With more than 35 years of combined experience, Jacqui and Matthew have particular expertise in advising high net worth individuals and families, SME businesses, professional service firms and not-for-profit organisations.

Theis session will look at the practical considerations and discuss the various options available for those with total super balances above $3 million.

Don’t miss it if you need to be up to date on this hot topic.

What’s your #1 bucket-list goal for this year? Complete the survey.

Excitement is building for Sebastian Terry’s keynote session later today at #ClassIgnite2023. We can’t wait to Unlock Passion for Peak Performance. But first, we’d love to hear from you! What’s your #1 Bucket-list Goal for this year?

Share it with us before the session: https://forms.gle/LibTbMzZXrP4z8b37

Are you getting the most out of your Class or NowInfinity software? Up to date on the latest features?

If you’re a Class client or NowInfinity client with Corporate Messenger activated, book in for a free health check at Class Ignite to get the most value out of your software.

In just 15 minutes you can get some great tips to increase efficiency in your practice. Book in a time and catch up with our product experts on Level 4 at the event.

Class Health Check bookings
NowInfinity Health Check bookings

Class and NowInfinity Support clinics

Have a Support question?

Come say ‘hi’ to the friendly Class and NowInfinity Support team on level 4 to get all your questions answered.

Today from 11am-3pm, No booking required.

Up next at Class Ignite 2023, Tony Negline from Chartered Accountants gives us a comprehensive overview of all the upcoming legislative and regulatory changes.

Tony is a CA SMSF Specialist. with over 30 years of financial services industry experience, He is a specialist member of the SMSF Association.

Tony is constantly interacting with Government and Treasury, ATO, ASIC and APRA officials, keeping abreast of the latest developments. From Federal Budget policies to SuperStream and indexation of super caps, Tony shares his expert insights about how these changes may impact accounting and advice clients.

#ClassIgnite2023 #regulation #superstream

Today at Class Ignite 2023 we’re hearing from Peter Williams, who leads the think tank Deloitte Centre for the Edge. Instead of buying into alarmist views about AI destroying the world, Pete presents a different theory about what may happen when we have all of humanity’s collective knowledge at our fingertips.

Peter has been at the forefront of digital innovation for more that 20 years. In this session, he asks how can accountants, advisers and auditors keep pace with digital innovation? What do they need to know and what do they need to do? Uncover what do you need to do to keep pace.

#ClassIgnite2023 #digitalinnovation #generativeAI

Don’t forget to take a photo with the selfie frame and post on LinkedIn using #ClassIgnite2023 for a chance to win a Nespresso Citiz and Milk Capsule Machine – located next to the Class Stand.

Good morning, #ClassIgnite2023 attendees! Get ready to kick-start your day with our morning keynotes on digital innovation and generative AI with Peter Williams (Deloitte) and staying ahead of regulatory change with Tony Negline (CAANZ). Today’s morning line-up is packed with insights you won’t want to miss.

We had an amazing networking event at Zeta Bar last night. It was an evening of connections, conversations, and unforgettable moments. If you missed it, don’t worry: there are still plenty of networking opportunities ahead today.

Stay tuned for more exciting updates throughout the day and keep the conversations going. #ClassIgnite2023 #morningsessions #networking