I have been thinking about setting up a SMSF for a few years now but don't really want the hassle and fees associated with setting it all up, ensuring compliance, doing returns etc. What I really want is the ability to cherry pick shares and invest in them directly via my super fund so that I effectively have very fine-grained control over where my super is invested, but without all the extra headaches that come with a SMSF. I have come across the ING "Living Super" product, which seemingly is a super fund that allows me to trade shares that are included in the ASX 300 plus a whole range of ETFs that I am interested in (Yes, gold shares and PM ETFs!) I am wondering if anyone else has any experience with this product or if anyone knows of any other super fund who can offer this kind of control over superannuation share investments. Appreciate any info or advice you can give me! Thanks in advance
https://www.esuperfund.com.au/ Signup, they send you 1 inch thick paper work, you sign it all, and a few weeks later it's all setup. Business ABN, GST, bank account, share trading, metal trading account. Annual compliance is an automated online checklist. Only gets a bit trickier if you have property or something. It's like 1 hours work a year for a basic SMSF with share and metal trading. The accounts are all linked, and all the data is sucked into the system for you. Just get the SMSF. You could regret it later if (when?) they change the rules.
Who are you recommending? I can check out a few places if its low maintenance though I am still skeptical about the fees. Will have to look harder. I've found a few super funds that allow you to manage shares yourself. Fees seem to be fairly low. I'll do a detailed comparison tomorrow probably.
Oops, sorry, forgot the link, added above. $650 per year is all it costs. I was scared setting up a SMSF too, but I've now been through two tax returns with esuperfund, and it couldn't be easier. Only became a bit of a PITA when I got a property, as they wanted extra paperwork that wasn't automatic like it is for share and metal trading.
If you are just share, metal or cash trading then I can assure you there are no headaches, it's easy peasy. Literally less than a hour a year filling out an online form. Unless you chose the wrong way to do it that is. I can only speak for esuperfund.
If you've determined you do not want to establish an SMSF, there's ING Direct Living Super. ING Direct Living Super allows members to choose from the ASX300 plus a list of ETFs (including non-redeemable gold.silver price ETFs) and LICs giving you access to diverse overseas markets. Disclaimer: I am not licensed to provide financial advice to individuals. Read the PDS and FSG. DYOR. YMMV.
Also Telstra Super has been doing this for a while but one needs to be either employed by Telstra or an ex employee.
Australian Super is another one via their Member Direct investment option. It's limited to the ASX300 and a menu of selected ETFs, and also subject to investment limits (eg. max 80% invested in shares; max 20% in a single stock). Plus you can't buy and sell the same stock on the same day. All of which looks reasonable. I am with Australian Super and have been happy with them, although I confess I haven't tried the Member Direct option.
