Editor's Choice
Mega super fund opens first international office
Australian Retirement Trust (ART) has opened its first international office in London to build out a "leading global investment capability."
Impact Alpha Partners adds to board
The budding consulting firm has added the former chief executive of Blue Orbit Asset Management and U Ethical Investors' former head of ethics and impact.
How to win in today's wealth management industry: EY
To outperform in the wealth management industry, leaders must conquer several "underlying challenges" by 2030, according to an Ernst & Young (EY) report.
FSC expands financial advice membership
The Financial Services Council (FSC) is expanding its remit into the financial advice sector by adding six licensees to its network of members.
Further Reading
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Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
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Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
Anyone who has works in the larger super fund sector knows well the effect of reserving accounts, crediting rates and actual results. This is their latest stab at the fact that as a general rule people have lost trust in the lack of transparency of big funds, along with concerns around estate planning and related matters. Crediting rates are dubious at the best of times.
Now with group insurance premiums being hiked considerable the large funds are struggling to retain members with any sizeable superannuation savings.
The cost that is never taken into account with these types of calculations - and the one the ATO can never ascertain - is the cost of the trustees/members time in running and maintaining an SMSF.
If a tradesman or professional who charges their clients $100 per hour spends 1 hour per week on the SMSF, this has cost them $5,200 per year. This will never be reported in the retruns of the fund. In fact the member/trustee will never even consider this when they look at the costs.
Of course, costs are only one consideration but people at least need to be honest with themselves with the cost aspect.