Australia-based SuperIQ has acquired the self-managed super fund (SMSF) administration business of Brisbane based Tranzact.

With this acquisition, the Tranzact customers will be offered with access to SuperIQ’s SMSF administration service and technology platform and will provide SuperIQ with additional scale.

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Peter Lalor, general manager of SuperIQ, said that the additional scale will allow them to continue to invest in enhancing services for customers, advisers and accountants.

"We will begin to engage with advisers and trustees that have been using Tranzact’s SMSF service today to understand what they value and how we can use the capabilities of SuperIQ to improve the experience they have with SMSF administration," Lalor added.

SuperIQ said that it will begin to transition the Tranzact customers to its service immediately.

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