Financial Advice

Written by Hein Preller , Posted in SMSF Topics

Superannuation Warehouse is an accounting firm. We therefore do not provide our clients with any financial advice.

Since 1 July 2013, businesses providing financial services need to obtain an Australian Financial Services license (AFSL) in order to provide financial produce advice to clients. As Superannuation Warehouse does not have an AFSL, we cannot legally provide any form of financial product or investment related advice to our clients. Trustees are required to evaluate their own situation and decide if an SMSF is suited to their needs.

Trustees have an obligatino to manage their own Funds, which includes making investment decisions. If Trustees are unsure of what investments to make, they can seek professional financial advice. The two most common forms of financial advice are as follows:

 

Traditional Financial Advice

Traditional financial advice is generally provided by a financial advisor or planner, someone who provides financial guidance to clients in exchange for monetary compensation. For more information on financial planners, please see here.

 

Robo Advice

Robo advice are financial advice conducted online with minimal human intervention. Clients are provided with the optimum investment portfolio generated using their answers to a series of questions posted by the robo advice software. For more information on robo advice, please see here.

 

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Hein Preller

Hein is a Director at Superannuation Warehouse, specialising in setting up new SMSF's. Hein's company performs all the annual administration tasks consisting of preparing financial statements, lodging a tax return and arranging the audit.
  • Mike Pomery

    Been doing my research, can see you are the cheapest smsf service online, and am interested in finding out more. I’ve noticed, however, that you don’t have a financial services licence. Can you please explain why this is not required to set up an smsf?

    • superannuationwarehouse

      Mike,
      Thanks for posting the question as this a very topical point.
      A financial advisor will assess your personal circumstances and advise if an SMSF is suitable for you. They will also do a risk profile and decide how much you should invest via your SMSF in cash, shares and property.
      The fees payable to a planner is typically an initial fee and then an annual fee based on a percentage of the assets you own. An initial fee is most likely around $5,000 and the annual fees are around 1% – 2% of the assets you own. This is just a ball-park summary and can obviously fluctuate.
      We are not a financial planner and will not make an assessment if you should or shouln’t have an SMSF and we also do not recommend what you should invest in. We therefore also do not charge financial planning fees. We operate and are licensed as an accountant and tax agent. If you decide to have an SMSF, we will execute this decision for you by setting up a Fund with the ATO. You can also see a financial planner, and if you then decide to set up an SMSF, we will set it up and do the annual accounting, tax and audit.
      Its a responsible decision to start an SMSF and also acting as Trustee for an SMSF. If you are comfortable taking on this responsibility, we will help you through the process. If you’re not sure if setting up an SMSF is right for you, maybe best to use a financial planner.
      This is a long-winded answer, but hope this this gives you the tools you need to make an informed decision.

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Peace Of Mind

We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.

No Advice

Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.

SMSF Topics