A self managed superannuation fund (SMSF) is great for some people, but inappropriate for others. Our financial advisors have over 40 years combined experience in the Perth area. One of the things we have learned at Approved Financial Planners is that no person’s financial situation is the same as another’s. Consequently, you will need an individual consult before you know whether an SMSF is right for you.
Advantages of SMSF
An SMSF allows you to exercise greater control over your financial future. You decide where your investment money goes. You are free to choose an aggressive strategy if you want, dependent on how averse or open you are to risk.
Since an SMSF is usually obtained by paying fixed fees while industry and retail super funds receive a percentage of the funds you invest, those who have more money in their funds may pay a lower percentage for administration costs.
An SMSF provides you with greater levels of transparency, control and flexibility. Also, changes in laws governing SMSFs now allow them to borrow money. This allows you to invest in assets such as rental properties and other, more diverse assets.