Managed Funds looking for alternative to investsmart - rebate trails

Hi All

Some time back somebody posted a link to a discount MF'der in competition to investsmart.

The problem with investsmart is that the trailcap only works with MF's who provide electronic information. Which is to say if they MF does not provide the electronic info then even through you list investsmart as your adviser they will still keep the trailing commission and not rebate it to you.

I remember looking at the alternate offerings which included insurance and I am pretty sure that they did some rebate of trails (like 50%) whether the MF provided electronic info or otherwise.

Problem is I don't seem to have bookmarked them and I can't seem to locate the post where they are mentioned.

So anybody have and info?

Cheers

 

Yep. That was it.

Thanks

 

You could also try 2020 Direct Invest.

 

I've tried to swap my Super (only about 35k) financial adviser to Yourshare, I got a snail mail from Asteron stating:

Commision on your membership will continue to be paid to Standard Pacific Financial Services, as they are your licenced Asteron advisor. As a corporate member of Optimum , your membership can only reflect the superannuation advisor of your employer, Standard Pacific Financial Services.

Then again I'm getting 133k of life insurance with no annual premium paid. (perhaps its paid from the commisions?) Although over 1 year, $127 was taken in "Service Fees and Charges"

Is it worth changing Super companies, (and foot the bill for my life insurance (and getting the commision rebate on that as well)?

 

Hi Voigtsr,

Your in a corporate superannuation plan and cannot change the servicing adviser on your policy in the plan.

Corporate superannuation plans are usually cheaper than retail superannuation plans, try and find out how much your corporate adviser is being paid. It might be a small amount anyway. If you move to a retail plan your super costs may jump up significantly, eg, depending on the size of your employer the total cost may be less than 1% whereas on a retail product it is not uncommon for the cost to be around 2%.

Is it worth getting a 0.4% to 0.6% discount when switching to a retail product where you'll pay more in admin fees? Remember these rebate companies only rebate some of the adviser commission.

Insurance costs are also usually significantly cheaper when in a corporate super plan compared to a retail product as well.

Cheers,

Dan

PS This is general information, before making an investment decision speak to a FPA registered Financial Planner.

 

Thanks Dan,
the corportate super is probably worth it for the life insurance as well.
Cheers
Simon

 

Hi Voigtstr,

Corporate Super funds are also good for Automatic Acceptance Limits when you start when a new employer. When I started with my new employer a couple of months ago I increased my life & TPD insurance to just over $600k with no personal statements and no medicals! How good is that?

You can't do that in an Industry or Retail fund...

Cheers,

Dan

PS This is general information. Before making an investment decision speak to your FPA registered Financial Planner.

 

Hi Voigtstr,

I also wanted to have YourShare as my broker over my compulsory super, and they advised that in my instance the super was tied to the company and not the individual. So guess what - the company nominated YourShare and now we all get a cash rebate each year.

I also nominated YourShare over my margin loan, and now get a rebate on the margin loan each year.

Happy days