Most everyday families are content with an industry or retail fund where the majority of the work is taken care of by a professional fund manager. But for those who want more control over their superannuation investments, a self-managed super fund may be the right solution.
A self-managed super fund, also known as an SMSF, gives you greater control over exactly which investment options your super fund is utilising when compared to retail or industry funds.
If you have an SMSF, you will need to be vigilant and actively involved with your fund in every investment decision. There are also significant costs – such as compliance, accounting, and planning – associated with setting up and running an SMSF. This means they are usually only suitable for those with large balances, which can ensure the investment growth exceeds the related costs.
Despite self-managed being in the name, an SMSF is not something that should be attempted without professional guidance to support you.
An SMSF is best suited for those:
- With over $200,000 in their current super fund
- Who wants to use their super to invest in property
- In possession of a clear plan for how to best manage their SMSF
- With a firm grasp of investment knowledge
- Who has the help of a team of expert financial advisors to guide them
Because of the costs associated with this type of fund, the help of a professional advisor has never been more important.
If you’re thinking of setting up a self-managed super fund or are seeking advice on how to better manage an established fund, our expert SMSF advisors are here to help.
We will be your go-to source of guidance when it comes to deciding whether an SMSF is the right option for you. We will also help you set a clear plan for managing your SMSF that will ensure you are building a portfolio that will grow and protect your financial security into the future.
Don’t take setting up your SMSF lightly – with the wrong investments, you could seriously set yourself back. Don’t let a lack of professional guidance endanger your financial future.