Should we transfer our super to a bank account to avoid fees?
Q: My husband and I are retired. We receive the bare pension and health card and we have our super in a Family Super fund account in a bank. We are both over 65 and have a financial adviser who [...]
Comparing super funds: Check out the cheapest funds
Rating agency, SelectingSuper has conducted some nifty research on the fees that super funds charge, and in generous fashion SelectingSuper regularly releases the highlights of this research for free access by the general public.
SMSF: How much does a DIY super fund cost?
Q: My wife and I are considering establishing our own super fund to be overseen by a licensed adviser. I asked two advisers for a quote on the set-up costs for a self-managed super fund. The first adviser charges approximately $8000; the second considerably less — about $1500. Which do you think would be the better option?
Super for beginners, part 11: Is my super fund good enough?
Q: I have my super with a major financial organisation. I’m wondering, are they a good company to be dealing with? I feel that their fees are a bit high: based on an investment amount of $300,000 the MER amount is $6,600 plus a monthly admin fee of $8.44. What are your thoughts on this matter?
Fund choice: Comparing super funds in 8 steps
A common and reasonable question is, what does a good super fund look like? Professional rating companies, such as SelectingSuper, SuperRatings and Chant West, evaluate and rate Australia’s largest super funds against various criteria.
Financial advice revamp: by the Shorten curlies
On 28 April 2011, the Assistant Treasurer and Minister of Superannuation, Bill Shorten made a brave and revolutionary announcement: he struck at the heart of the financial services industry money-making machine — by banning commissions and volume-based payments.
Is DIY super right for you?
Running your own super fund is not necessarily a difficult task but you need to keep your wits about you. You may hear a lot a noise about DIY super, and sometimes from people who know nothing about super. Your best defence against bad advice is to start with your own research.
Are SMSF audits too expensive?
Q: I have noticed that SMSF auditors and administrators are charging what appears to be rather high costs, perhaps because of the mandatory nature of these audits. I have also noticed some online providers, including one that flatly refused to provide me with the name of their auditors.
THE SOAPBOX EXCLUSIVE: How to spot an independent adviser
In this exclusive article, the president of the Independent Financial Advisers Association of Australia Limited (IFAAA), Daniel Brammall, shares his tips on how to spot an independent adviser, and also how to spot an adviser who is NOT independent.
Super in 3 steps: You’re probably richer than you think
Here’s a tip: a quick and easy way to feel instantly richer is to take the following 3 steps: 1. Find out how much money you have sitting in your superannuation account; 2. Locate any lost or forgotten super accounts; 3. Consolidate your super accounts, and potentially save thousands of dollars.
Expectation gap: Client vs Adviser (comments from readers)
Readers have their say about what they are seeking in a financial adviser, and in doing so generate a very interesting debate that highlights a potential expectation gap between client and adviser.