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SMSF eSuperfund

Discussion in 'Medium/Long Term Investing' started by jersey10, Sep 1, 2008.

  1. jersey10

    jersey10

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    to run your own SMSF you generally require a fairly large amount of money in super to make the fees worthwhile. I don't have this. What i do have i would like to manage myself and i think i can using the esuperfund. Does anyone have any experience with this and is it any good?

    http://www.esuperfund.com.au/
     
  2. awg

    awg

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    there is already a thread on this topic
     
  3. Sped

    Sped

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    esuperfund any saftey in transactions?

    The reason i ask is my partner of two years and i would like to start a smsf through esupersund and have quite large retail funds, however this girl is very nice but not the sharpest tool in the shed, and was wondering if she ever felt the "need" to spend would there be anything to stop her from just transfering money from the fund into her own personal bank account ? is there a way i could protect myself from this as i dont want to rock the boat by telling her i dont trust her and dont get me wrong i 99.9% do, but its too much money to let her have that kind of controll over! am i a bad person?
     
  4. sptrawler

    sptrawler

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    The Australian Taxation Office oversees S.M.S.F. Not the best people to get on the wrong side of. Go and get professional advice before going much further down the track. It is a complex issue and penalties are high for non compliance.:eek:
     
  5. tech/a

    tech/a No Ordinary Duck

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    Agreed
    There are special circumstances but a shopping urge isn't in the list.

    I would suggest joint signatories.
    A good will wouldnt go astray either.
    Power of attorney as well.

    Go find that professional.
     
  6. Slipperz

    Slipperz

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    Re:. SMSF esuperfund

    I have been managing my SMFS since April of last year with esuperfund.

    In that time I have achieved returns of very close to 200%

    For a 600 dollar annual accounting fee it seems to be pretty good value.
     
  7. myname

    myname

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    smsf

    Does any one have a smsf with esuper and if so are they worth being with.
     
  8. myname

    myname

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    Re: esuperfund any saftey in transactions?

    Ask the bank what precautions there are.No you are not bad I feel the same way.
     
  9. KrisEvolved

    KrisEvolved SMSF Guy

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    I know this is an older thread, but thought I would add my two cents.

    Before giving an opinion, I need to disclose that I also run a sizeable SMSF administration business, however I don't consider esuperfund a direct competitor as they service a different part of the market and do it pretty well by all accounts.

    Having spoken to an number of people who originally set up their SMSF with esuperfund, the primary reason people move away from the service seems to be that they either want more investment flexibility, or higher / more personalised service, and are willing to pay a little extra to get it.

    I also note that esuperfund receives commissions from the preferred brokers and banks (ANZ v2 account) - all of this is disclosed on their website (http://www.esuperfund.com.au/Disclosures/Disclosures.aspx). There is nothing wrong with this however I know some people prefer transparency on these matters.

    If you are a high frequency trader, an extra $5 or $15 per trade can also add up - using a different administrator with a wider range of available brokers may be more cost effective provided the other administrator doesn't charge per transaction.

    I am also not a fan of their SMSF trust deed, there is nothing 'wrong' with it - especially for a simple investor in the accumulation phase, however as your SMSF grows and gets more complex, a deed is needed that provides a greater level of flexibility for different strategies.

    I suppose the biggest thing is whether you can pick up the phone, and speak to an appropriately qualified person who can answer you questions and provide advice when you need it.

    K
     
  10. slooi1

    slooi1

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    Kris,
    Regarding the trust deed, which parts specifically are inadequate or not flexible enough?
    I am looking at eSuperfund, but fund it hard to compare whether the trust deeds between them and a full service smsf administrator.

    My assumption is that the deeds are outsourced to a company like cleardocs for most administrators?

    Slooi1
     
  11. sydboy007

    sydboy007

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    I found the investment universe in the trust deed to be pretty good. Prob only thing not allowed in overseas direct property, but don't see this affecting too many people, and as KrisEvolved has indicated anyone using esuperfund is probably not the right target market for that kind of investment.

    So far I've been happy with their level of service. I've emailed them a few questions and been surprised that nearly every time I've received a same day reply.

    The legal responsibilities of being trustee are pretty clearly spelled out. If you have worries over any other trustee doing something they shouldn't, then I'd suggest having separate super funds. As long as the fund size is 100K minimum then the fees are not too bad as a % of the fund assets to run as separate funds.
     
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