Unlike retail or industry superannuation funds, with a Self-Managed Super Funds (SMSF) a member can also be a trustee. This gives you control over the fund, including its financial strategies and investments. SMSFs can have multiple members – up to four in Australia – which makes them ideal for families, businesses and partnerships. The level of control given to each trustee can be tailored to their needs and the requirements of the group.
There are many benefits to setting up a Self-Managed Super Fund. Having control over your plan gives you incredible flexibility in what goals you can set, and the steps you can take in achieving them. As well as being able to choose who the members/trustees are, you can choose your fund's investments – direct shares, overseas assets, property etc – and you can borrow money through your SMSF, for the sake of property investment. This makes a SMSF a versatile and powerful addition to your financial framework... you could use it as a family super fund, as part of your estate planning, or simply as a means of growing your personal wealth.
As the trustee, you will be responsible for the strategy of the fund and its investments, as well as keeping records, providing statements, preparing tax returns, managing pension plans and retirement strategies. This is a lot of responsibility, but it affords you greater control over your fund. With help from Financial Framework, you will be on strong footing to manage and grow your own super.
Although a SMSF is obviously self-managed, many trustees hire Financial Framework for specialist advice and guidance. With our help, you will be able to create and manage a fund that yields the greatest returns. We provide comprehensive support. Everything you will need to manage your own fund to its optimum – including financial advice on which investments to choose. We provide the tools to keep you on track.