eSuperFund

Discussion in 'Superannuation, SMSF & Personal Insurance' started by jafeica, 21st Sep, 2016.

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  1. jafeica

    jafeica Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    114
    Location:
    Sydney
    I'm thinking of switching to an SMSF to manage my investments myself - anyone used these guys?

    Self Managed Super Funds | SMSF - Esuperfund

    Am I right in saying they charge $799 per year, plus there is the statutory ATO Annual Supervisory Levy of $259 = $1058 per year?

    I am aware of the commissions they receive on trading and term deposits etc, but to be honest that doesn't worry me too much as I wont be trading much (2-3 per year) as I will be leaving the new deposits in cash until a buying opportunity presents itself.

    Will be looking to buy LIC's / Index tracker ETF's - so there will be the indirect fee from the management charge of the fund as well on top of the $1058.

    Main reason for doing this would be to be able to buy insurances through super but not the generic policies offered by the retail guys like ING Direct.
     
    jafeica, 21st Sep, 2016
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,415
    Location:
    Sydney
    I'm not generally a fan of online super fund services - there's simply too many compliance issues with SMSFs and it changes every year. Best to get good advice and make sure your trust deeds are kept compliant.

    This is not a comment on esuperfund specifically - I have no direct experience with them - it's more a general comment.

    Also, if you've got less than $100K in super, I wouldn't bother with an SMSF (some people suggest $200K minimum to make it worth the costs).

    Of course, you can combine your spouse (and other adult family members) super into your SMSF to minimise costs and give you a larger balance to work with - but that requires you all to be on the same page in regards to strategy and such.
     
    Simon Hampel, 21st Sep, 2016
    #2
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