Looking for opinions on a new Super fund

harry_mr

harry_mr

Active Member
Hi all, I have my Super with with one of the larger funds but I pretty much control what happens with it and tweak it where possible. However this is my problem, they will only let you do fairly limited things. They offer ETF's but only a small selection of EFT's like Vanguard but not betashare EFT's and you can buy some asx200 stocks and I know they will have their reasons and want to limit risk for clients etc etc but without changing to an SMSF does anyone know of or use a more flexible fund that they can recommend I look into.
Its not like they don't slug you for the privilege of moving your own money around in a fund either.
Thanks
 
Bump...Id like to hear any suggestions on a better Super fund that allows for flexibility to trade in more of the things that people on here might consider worthy holdings. Sure Esuper will give me that flexibility but really what Im searching for is a semi managed fund that gives the most flexibility for me to be able to make the tweeks to my account that I think are worthwhile. My present one only allows me to buy a couple of ETF 's that they consider are worthy and low risk, but ultimately its my money and I want to have more control.
It may be that only a SMSF will give me what I want, but the likes of ING and IOOF that I have seen mentioned online don't provide much info about what they do and don't allow so I was hoping someone of here might be able to share their experiences with a fund they can recommend. (Already spent many days and nights researching, CANSTAR provides a list of funds)
A PM is fine its not something they want to openly discuss here, Ill do further research anyway, tia.
 
I knew an odd fellow who did the SMSF thing, he said it required a fair amount of book keeping to make sure you comply with the rules. Far easier stacking "under the mattress". Risk comes in the form someone stealing it, of coarse. Same can be said of banks and financial institutions. To many times I have seen news stories showing people banging on banks closed doors screaming for their life savings. I don't trust banks. That is why I like physical. I suppose that is what attracts a lot of people to stacking.
 
On the banks APRA were given 'resolution powers' under the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017 https://www.aph.gov.au/Parliamentar...slation/Bills_Search_Results/Result?bId=r5989 I think most people on here would be aware of the powers given to them and what they can do in the event of a failed ADI and the $250k rules. I guess the paperwork might be worth it in a SMSF if its to your benefit. In the end if I don't be proactive and look after myself then I cant expect anyone else to. Super is a compulsory tax that buys the suits a free lunch at my expense but I may as well try to grows whats left over.
Thanks for the input.
 
harry_mr said:
but without changing to an SMSF does anyone know of or use a more flexible fund that they can recommend I look into.
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Look at eSuperfund www.esuperfund.com.au
You might change your mind about not wanting to do this in SMSF, its only cost about $1000 pa, and administration is not onerous.

I have been with them for 10 years I think, and I have all the flexibility i need, including buying lots of metals (cant hold physical).
I dont have much money in mine, but with 2 members, that actually brings the fees down well below what managed funds cost.
 
zedstrange said:
Look at eSuperfund www.esuperfund.com.au
You might change your mind about not wanting to do this in SMSF, its only cost about $1000 pa, and administration is not onerous.

I have been with them for 10 years I think, and I have all the flexibility i need, including buying lots of metals (cant hold physical).
I dont have much money in mine, but with 2 members, that actually brings the fees down well below what managed funds cost.
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Zedstrange, Esuper is where i might end up, I didn't know it was cheaper with more than 1 member but cost is only one consideration, I am trying to find that Goldilocks fund... and it might not exist. A decent amount of flexibility for my trades and input from a fund manager that justifies their fees. I don't want to spend my entire time trying to look for growth just the ability to invest in something less mainstream if I wish. Its my money and they will charge me if they pick winners or losers, however I would say they limit inviduals from fringe investments to try and keep their statistics high for promoting their YOY returns.
 
Wasn’t there a thread somewhere on the forum last year discussing Brightday super as they allowed investment in PM’s and good hands-on investment involvement?
 
Shaddam IV said:
Wasn’t there a thread somewhere on the forum last year discussing Brightday super as they allowed investment in PM’s and good hands-on investment involvement?
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I did search the SS threads and I think that name did come up but even if a fund allowed PM certificates rather than bullion would be a starting point to look at. Like i said its my money not theirs if I'm begging on the streets in 20 years what do they care although the suits have their reputation to uphold.
 
Hi harry_mr, I did a fair bit of research into Super funds. I too like to have control over my funds but I did not want to go down the road of ESuperfund. Not because of the fees or the way it works it's just that I'm getting older and my wife has no clue about this stuff. I didn't want her to end up in a position of me not being around and then having to work about what to do with the SMSF. So I decided to go via a Super fund that lets me chose my own stocks and ETF's.

I joined ING Living Super, it was all going ok until they jacked up the fees massively. Now they charge more than an industry fund so I decided to look elsewhere. With ING I could invest in the GOLD ETF or the USD ETF or anything in the top 300 on the ASX. But the sneaky way they baited and then switched to high fees on us meant the SUITS were getting more of my money.

I turned to QSUPER. QSUPER now accept anyone from anywhere in Australia. Previously they were only for QLD GOVT employees. They also have a "Direct Invest account" where you can buy ETF's and shares. At a quick glance I don't think they have as much as ING did but their fees are way lower. I only just switched over to them and I have not gone over to Direct Invest yet. But I will tell you this, their Australian Shares portfolio only charges .27% MER which is not bad for a super fund. So perhaps you might want to look at them. I also looked at Australian Super but decided against them as their customer service was woeful.

Good luck with whatever you choose, cheers.
 
Hi Silverling, Thanks for the ING insight, I had read a few people recommending ING but agree the fees had been raised and a valid point about how well a partner could manage an SMSF if something happened. I have looked at Qsuper, they have Self Invest and yes they do have a few ETFs. You can see what theier ETFs online. https://qsuper.qld.gov.au/our-products/investment-options/self-invest/exchange-traded-funds
They offer Betashares ETF symbol QAU (Precious) and several Vanguard ones, they do let you trade the ASX300, the in/out cost on a trade I do consider to be steep. They also have a few things like term deposits etc but again I was hoping for more, although offering 1 commodity is better than none.:)
 
So after looking through many retail and industry funds the only alternative I found for my needs with the flexibility I wanted was with a SMSF. I now have to find insurance to replace what came with my previous fund, hopefully
I can do better than what I had. At least now I feel in control.
 
How have you found it so far. Im in the exact same boat at the moment. Looked at everyones suggestions but when I looked into them they weren't for me either. Hows the insurance and how have you diversified if you dont mind?
 
th3.l0stralian said:
How have you found it so far. Im in the exact same boat at the moment. Looked at everyones suggestions but when I looked into them they weren't for me either. Hows the insurance and how have you diversified if you dont mind?
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I ended up going down the path of a SMSF with esuperfund. I just couldn't find anything else that would give me the flexibility I was after. As for insurance I assume you mean income and life protection, I am still searching for something reasonable, so far the quotes I have had seem excessive but I continue to look around.
 
In a perfect world Id set up a SMSF, buy some Pamp bars of Gold and silver and shove them in my safe, this isn't possible but what is the next best thing to it?
Trying to avoid counter party risk
 
I think a SMSF can buy physical PM's and store with the Trustee subject to paperwork and I think the member of the SMSF can be the Trustee.

I don't have a SMSF, but this is my understanding from what I've read...I suspect some on this forum may have a SMSF and can confirm / correct as appropriate.
 
Oddjob said:
I think a SMSF can buy physical PM's and store with the Trustee subject to paperwork and I think the member of the SMSF can be the Trustee.
I don't have a SMSF, but this is my understanding from what I've read...I suspect some on this forum may have a SMSF and can confirm / correct as appropriate.
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eSuperfund integrates with MetalDesk trading platform:
https://www.bullioncapital.com/metaldesk-platform/

You can have them store unallocated or allocated, but you can't take possession yourself. That's not a SMSF limitation it just that provider. You could simply use your SMSF bank funds to buy gold from whoever you want (likely extra paperwork involved) and hold it yourself, this is allowed under SMSF rules provided it is not "collectible", you just have to minute your reasons for doing that.
You also don't need insurance, but once again, a company minute note needs to cover that.
These minutes are uploaded into the esuperfund system at end of year, just a few minutes work.
https://www.esuperfund.com.au/other-assets/metals/how-it-works
 
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