Wealthtrac managing director and chief executive office Matthew Johnson said the move was a result the boom of the SMSF sector over the past decade.

“The growth in SMSFs over the past decade has been phenomenal,” Mr Johnson said.

“Today more and more people are setting up SMSFs, with the key motive of taking control over their super and investments.”

“[Mr Macken] will drive the expansion of our SMSF capabilities, with a special mandate to target financial advisers.”

Mr Macken has more than 15 years’ experience in the financial services sector including a role as business development manager with Bendigo and Adelaide Bank which he held for ten years.

More recently, this role also involved responsibility for delivering SMSF solutions to accountants and financial advisers.

He also held positions with BT Funds Management and perpetual Funds Management in adviser development roles.

With momentum continuing, Mr Johnson said he expects the demand for Wealthtrac’s SMSF platform to continue.

“We have seen a positive response to the Wealthtrac SMSF platform since its launch earlier this year,” Mr Johnson said.

“Advisers and trustees like that this SMSF application is cloud-based and satisfies all of the required reporting obligations in the running of an SMSF.”