Stockspot plots entry into superannuation space

Stockspot is preparing to launch a superannuation offering that would see members' retirement savings invested exclusively in ETFs.

The trading platform is planning to launch Stockspot Super later this year, first bringing an accumulation product to market, followed by a pension offering.

At present, Stockspot has about $770 million held outside of super on its platform. Over the last five years, it says its investment portfolios outside of super have outperformance at least 99% of similar funds.

With its product, Stockspot said prospective members can "enjoy the transparency and tax efficiency of owning a personalised portfolio of ETFs within your super without the complexity of creating an SMSF."

Stockspot added: "It's the end of pooled super funds and the beginning of transparent investing tailored to your needs."

Members will have a personalised portfolio tailored to their life stage, which will adjust automatically as they approach retirement.

While there is no product disclosure statement available as yet, Stockspot did provide some detail as to features of the offering.

Listing drawcards, the company said its solution offers a tax efficient account structure, whereby members would only pay tax on realised capital gains.

"Unlike pooled super funds, Stockspot Super will offer discrete accounts so you won't pay for the future tax liabilities of other fund members," it said.

Transparency is also a key feature, Stockspot said, explaining that it will only invest in publicly listed ETFs which ensures the investments are valued every market day, and won't be invested in "unlisted assets that are prone to delayed valuations and unfair prices for members."

In terms of fees, Stockspot Super will charge 0.53% per annum in administration fees, plus applicable ETF fees. Transaction costs will be charged at 0.1% and only when ETFs are bought or sold on the members' behalf.

Stockspot Super also says it will be the only super product with a 10%+ allocation to gold across all its options.