Superannuation Warehouse is an accounting firm and we do not provide any financial advice (we are not financial planners).
Trustees need to be mindful of their own financial situation and objectives when setting up an SMSF. Once a Fund is set up, all financial decision making are managed by the Trustees of the Fund.
When comparing with a Retail Fund
There is no legal requirement for a minimum balance in superannuation to establish an SMSF.
In terms of costs, SMSF fees are transparent as all administration fees are paid by the SMSF bank account, which are in turn managed by Trustees. However, for Retail Funds, there are many charges hidden in the back of a Product Disclosure Statement that may include but not restricted to:
Many of the fees noted above can be avoided in an SMSF. SMSFs may therefore be ran on a more cost efficient basis than a Retail Fund. At Superannuation Warehouse, our fees are fixed irrespective of the size of the Fund. This allows for two major advantages for our clients:
- If you are on our $79 per month package, we do not charge extra fees for additional investments that the SMSF undertake.
- We do not charge extra fees if more Members or Trustees join the Fund
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