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Company News Summary

Class Provides 31 December 2018 Update

10 Jan 2019  |  09:31:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Class - 31 December 2018 Update

Class provided 31 December 2018 update. It grew by 1,529 accounts (net of 1,000 AMP suspensions) to 167,631. The lower than expected growth in accounts reflects regulatory uncertainty, increased competition and a lower number of average accounts per new customer. It is committed to strengthening its product leadership over its competitors and restoring account growth back to historical benchmarks. A number of new features will be released in the first quarter of 2019 to drive increased levels of automation and further streamline SMSF administration for accountants, to be accompanied by a broad range of marketing and customer engagement initiatives.

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