Managing your retirement savings effectively is essential for a secure and comfortable future.
Our SMSF services simplify the process, offering expert guidance to help you stay on top of your superannuation matters.
From setting up a new SMSF to optimising your current super management, we tailor our services to fit your unique needs and goals. Let one of our skilled advisors handle the complexities, so you can focus on what matters most. Read on to learn more about how we can help you achieve a successful self-funded retirement.
Discover how our Self-Managed Super Fund (SMSF) services empower you to take control of your retirement savings. In this video, our expert financial adviser explains the benefits of SMSFs, how they work, and how we can assist you in setting up and managing your fund.
Erin Truscott:
Hi, my name is Erin and I’m a financial advisor at Direct Wealth, and I wanted to chat about self-managed super funds. This is a really technical space and something that we do give advice on. The first step we would take is making sure that the super fund is relevant for the client, and if it is relevant, then a big part of what we can do is help them manage the internal running’s of that superannuation fund, and we would generally do that in line with their business advisory accountant because at the end of the day, an SMSF is basically like having another corporate structure or another company with another set of tax returns and a lot of intricacies that goes along with that.
One of the common misconceptions that we come up against when we’re discussing self-managed super funds with our clients is that if they have a self-managed super fund, somehow, they’ll be able to manage things better and get a better result. However, when you actually unpack each client and what their wants and needs are, sure there are times where a self-managed super fund becomes appropriate, where they want to hold specialist things inside that fund, like property or direct shares. But in most cases, a client really just wants to know that their super is going to grow for them for their retirement, and they want someone to be able to help them take care of that.
So, when we start out in the process, we’ll help you with the investments. We’ll make sure we take into account any specialist assets in the portfolio, like property and direct shares, and get you to a point where we can start to utilise that income and have a nice healthy bucket to help you achieve your retirement lifestyle goals at the time you wish to stop working. So, if you do decide to go down the path of having a self-managed super fund, it’s our role at Direct Wealth to work with you on that and advise you along the way to ensure that you can move into your retirement comfortably.
If you are thinking about starting your financial planning journey, or perhaps you might be looking for a new financial advisor, please do reach out to the team at Direct Wealth. We have a number of wonderful advisors here who can really help you on your journey and give you peace of mind that the plan you have in place is going to make sure that you are okay, now and into the future. We really look forward to hearing from you.
A Self-Managed Super Fund (SMSF) is a private superannuation fund that you manage yourself, offering greater control over your retirement savings and investment strategies.
By setting up a self-managed super fund, you gain the flexibility to choose and manage your own investments, including property, shares, and other assets, allowing for a tailored approach that aligns closely with your financial goals and retirement aspirations.
However, managing an SMSF comes with responsibilities, including compliance with legal regulations, making it essential to seek professional advice.
The value of an SMSF lies in its potential to deliver significant financial benefits, but it requires careful planning and management to ensure it operates effectively and meets your retirement objectives.
Our SMSF services are comprehensive, covering all aspects of setting up and managing your SMSF. Here’s how we can assist:
Our SMSF services are designed to help you achieve the outcomes that matter most for your retirement:
Ready to take control of your retirement savings? Contact us today to get started.
At Direct Wealth, the numbers tell our story. With years of dedicated service, tons of experience, and countless happy clients, we’ve built a reputation for trust and excellence.
Here’s a look at what we’ve achieved:
We make managing your self-managed super fund straightforward, offering tailored advice to suit your unique needs. Our goal is to simplify the process and give you peace of mind.
Our team of experts simplifies the process and handles all the intricacies, so you don’t have to.
We take care of everything for you, from start to finish, and everything in between. With our professional help, you can be confident that everything is done to the highest standards.
Instead of wrestling with the details yourself, why not let our specialists work their magic. We’re dedicated to making your SMSF experience straightforward and stress-free.
Your retirement goals are unique, and so is our approach to managing your SMSF.
We take the time to get to know your financial situation and aspirations. This way, we can offer advice that’s specifically tailored to your needs, ensuring your SMSF works effectively towards your goals.
With our expert support, you can trust that your SMSF is managed with precision and care.
Our goal is to help you achieve better long-term outcomes.
With professional management, your super fund will be optimised for success, providing you with the financial security you need for a comfortable retirement.
You can rest easy knowing that your super fund is in expert hands, allowing you to enjoy a worry-free today while looking forward to a bright tomorrow.
Let us help you build a personalised SMSF strategy that suits your unique financial goals.
Whether you’re setting up a new SMSF, optimising your current super management, or planning for a secure future, our experts are ready to help.
Our goal is to ensure your super fund is well-managed, compliant, and positioned for success, providing you with peace of mind.
Ready to secure your financial future? Contact us today to get started.
Jamie F.
Satisfied Client
“I had a fantastic experience with Direct Wealth! From the very beginning, I felt comfortable with the entire process. Kirsty and the team were professional, knowledgeable, and always available to answer my questions.
They took the time to understand my needs and provided tailored advice that I could trust. I highly recommend Direct Wealth to anyone looking for expert financial guidance. Thank you for your exceptional service.”
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An SMSF (Self-Managed Super Fund) is a type of superannuation fund that you manage yourself. Unlike other super funds, you have complete control over the investment decisions and day-to-day management of the fund, offering greater flexibility and personalisation of your retirement strategy.
SMSFs differ from traditional superannuation funds primarily in the level of control and flexibility they offer. With an SMSF, you have the freedom to choose and manage your investments, including property, shares, and other assets, whereas traditional funds are managed by professional fund managers.
While anyone can set up an SMSF, it requires a significant commitment of time, effort, and knowledge. You need to be fully aware of the responsibilities involved, including compliance with legal regulations and ongoing management of the fund. Professional advice is often recommended to ensure you meet all requirements.
The benefits of a self-managed super fund (SMSF) include greater control over your investments, the ability to tailor your investment strategy to your specific financial goals, and potential cost savings.
SMSFs also offer the flexibility to invest in a wider range of assets, including direct property. The advantages of SMSFs extend to the potential for tax benefits and the ability to directly manage your retirement savings.
An SMSF allows you to invest in a broad range of assets, including residential and commercial property, shares, bonds, managed funds, and cash. The flexibility of investment options is one of the key advantages of SMSFs, enabling you to tailor your investment strategy to your personal financial goals.
There is no set minimum amount required to start an SMSF, but it’s generally recommended to have a substantial balance (often suggested at $200,000 or more) to justify the costs involved. The higher your balance, the more cost-effective an SMSF becomes compared to other superannuation funds.
As an SMSF trustee, you are responsible for managing the fund according to the law and the fund’s trust deed. This includes making investment decisions, ensuring the fund is compliant with all regulations, maintaining accurate records, and submitting annual tax returns and audits. Understanding the rules for self-managed super funds is crucial to avoid penalties.
Setting up an SMSF involves several steps, including establishing a trust deed, appointing trustees, registering the fund with the Australian Taxation Office (ATO), and creating an investment strategy. Professional advice can help you navigate the process and ensure everything is set up correctly.
The costs of running an SMSF can vary but typically include setup costs, annual audits, accounting fees, and investment management fees. Understanding the SMSF setup costs and ongoing fees is important to determine if an SMSF is the right choice for you.
An SMSF must be audited annually by an independent SMSF auditor. The audit ensures that your fund complies with the relevant regulations and laws. SMSF audits are a crucial part of maintaining your fund’s compliance and avoiding penalties.
Yes, you can transfer your existing superannuation into an SMSF. This is a common practice when setting up an SMSF, allowing you to consolidate your super funds and take control of your retirement savings.
If you make a mistake with your SMSF, such as breaching compliance rules, it’s important to rectify the issue as soon as possible. The ATO may impose penalties, but these can be mitigated if you take prompt corrective action. Seeking professional advice is recommended to navigate any errors.
Developing an investment strategy for your SMSF involves setting financial goals, determining your risk tolerance, and choosing appropriate investments. Your strategy should align with your retirement objectives and be reviewed regularly to ensure it remains effective.
When you retire, your SMSF can start paying you a pension, providing a regular income stream from your retirement savings. Your investment strategy may shift to focus more on preserving capital and generating income, depending on your retirement needs.
Managing an SMSF while living overseas can be challenging due to the residency requirements imposed by the ATO. To maintain compliance, at least one trustee must reside in Australia, and the fund must be managed primarily in Australia. Professional advice is essential if you plan to live overseas while managing an SMSF.
