Financial Synergy Timeline

• Financial Synergy founded by David Orford, Melbourne
• Client win: Statewide Building Society
• Financial Synergy Superannuation Fund established, now known as the Super Synergy Staff Fund.

1980

• National Companies and Securities Commission (NCSC) established

1983

• Government increased tax on lump sum benefits and introduced Pre and Post Components, other components and rollover funds
• David Orford becomes National Presenter on Superannuation for the Society of Accountants
• Client win: Westpac Insurance Services and Independent Provident Society of Victoria

1985

• Commenced actuarial work for the Victorian Government's Transport Accident Review
• Compensation reforms

1986

• Client win: Norwich Union for SAS system
• Productivity Fund established, now known as the GrowSuper Fund

1987

• Stock market crash - "Black Monday'
• ASX established
• Established Top Quartile Management Limited and Top Quartile Superannuation Trust

1988

• Super Synergy Fund established
• David Orford appointed Managing Director
• Client win: Stillwell Ford Dealership for administration, actuarial and consulting services

1989

• Super Synergy System (SSS) code written
• Client win: SRT, a group of major building societies including Bendigo, Hindmarsh, Illawarra and Home for SSS.

1990

• Client win: BHP and Tower Life New Zealand for SSS
• Australian Securities Commission established (replacing NCSC and Corporations Act)
• AS400 version of SSS developed by BHP IT, Synergy Software and Financial Synergy.

1991

• Opened Sydney office
• Client wins: Prudential and Commonwealth Life for SSS

1992

• Opened Hobart office
• Client win: Tasmanian Government for actuarial services
• Superannuation Guarantee Legislation introduced

1993

• Opened Brisbane office
• David Orford appointed as independent actuary to Senator Alston's Superannuation Committee
• Synergy Capital Fund established
• Superannuation Industry (Supervision) Act 1003 (SIS) implemented

1994

• Client win: QSuper for SSS

1995

• Client win: Heine Master Fund for administration services
• Self Managed Superannuation Fund (SMSF) division established

1997

• Retirement Savings Account Act and Regulations introduced
• Client win: Financial Synergy administers half of Australia's Retirement Savings accounts (RSAs)
• Client win: NSW Government, State Administration Authority's State Super Scheme for SSS

1998

• Client win: Australian Primary for Australian Primary Superannuation Fund for SSS
• ASC becomes ASIC, now responsible for consumer protection in Superannuation
• APRA established - previously Insurance and Superannuation Commission

2001

• David Orford nominated Entrepreneur of the Year by Ernst & Young
• Insurance Act revised
• Financial services Reform Act launched and added to Corporations Act.

2002

• Client wins: Kina, Elderslie Finance, SMF, QSuper, Meat Industry and netwealth for SSS system
• ASIC now responsible for consumer protection in credit.

2003

• Online version of SSS launched, now known as Acurity Online
• Client wins: AMP Defined Benefits, WA Local Government, ESI Super and UniSuper for SSS system. CSSF and TASF WA for Acurity Online.

2004

• Client wins: Telstra Super, UniSuper and ComSuper for SSS system
• Re-branded SSS administration software platform to Acurity
• Financial Services Reform Act takes effect.

2005

• Superannuation Legislation Amendment (Choice of Superannuation Funds) Act 2004 (the choice of Fund Act)
• Formation of Finance Industry Council of Australia (FICA)

2006

• Client wins: GSO Victoria and Emergency Services Superannuation Board (ESSB) for Acurity. max Super for administration services
• Synergy Lifetime Super Fund established
• Anti-Money Laundering and Counter Terrorism Financing Act introduced.

2007

• Better Super reforms introduced
• Changes for SMSFs including Government's $1 million superannuation contribution and GST / PAYG introductions
• SMSF Administration Services restructured and SMSF Online launched
• Sub prime crisis

2008

• Global financial credit crisis
• Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008
• Financial Synergy celebrates 30 year anniversary
• wealthsense (online financial literacy products) launched

2009

• Phillip Campbell appointed Group General Manager
• Financial Synergy's Administration division is re-named and branded Aquipt
• Acurity Access+ is launched, an e-commerce solution with innovative Web2.0 technologies

 2010