SMSF Advice

SMSFs are not right for everyone, in fact, they are right for very few people.  It is important to seek independent financial advice prior to opening an SMSF to ensure it is right for you.  There are a number of companies that “spruik” SMSFs for the sole purpose of selling investors real estate investments that are often not right for them.  Although generally accountants are very ethical, they can also be incentivised to recommend their clients commence an SMSF so that they can charge higher accounting fees.  We do not accept commissions, asset based fees or any other kind of conflicted remuneration for our services so you can be guaranteed that our advice, on whether to commence an SMSF or not, is unbiased. 

If you do decide to commence an SMSF, or you already have one, one of our financial advisers can assist with helping you select investments for it and deciding whether or not the fund should own any of the members’ personal insurances.  

 

ANDEP’S ROLE IN AN SMSF

Andep is an independent, Perth based financial planning practice with no links to banks or any other financial institutions.

We believe that most of the time an accountant is the pivot around which all of a client’s financial affairs should revolve. We therefore encourage your existing accountant’s participation in the process of establishing an SMSF and all other aspects of your financial affairs.  With your permission, your accountant is encouraged to attend our meetings and can be provided with copies of your Statements of Advice.

We can write a comprehensive investment policy, which we periodically review, to ensure the fund’s investments and insurances remain suitable and the fund remains compliant.  ASIC requires trustees to review the need for insurance within the SMSF.  If insurances are needed, Andep can help determine the insurance type(s) and sum(s) insured.  Unlike many advisers, we choose not to receive commissions from insurance providers, eliminating any conflict of interest regarding your insurances.  This also results in premiums being, on average, 30% cheaper for our clients.  

If you are considering setting up an SMSF there are many factors which will influence this decision.  In the vast majority of cases we actually discourage clients from setting up an SMSF- though there are circumstances in which they are suitable.  If you would like to meet with an adviser to discuss the set-up and investments of your SMSF, please contact us on (08) 9225 5899 or email [email protected].