SMSF members get DVD assistance
Two former Super Concepts directors have launched a self-managed superannuation fund (SMSF) education business in Melbourne.
Run Your Own Super has been formed by Chris Wilson and Keith Inns and it has released two DVDs relating to the suitability and administration of SMSF’s.
Wilson said the first DVD is aimed at people who are thinking about setting up an SMSF while the second explains how a fund should be run.
“Although the content is mainly aimed at the individual who is thinking about or running a fund, we make the point they will still need the services of a SMSF specialist,” he said.
“The DVDs are, however, also an education tool for the financial planners and their staff.”
Wilson said the idea came from their days at Super Concepts when people would ring up asking if they were suitable for having a SMSF.
“They would ring us and we would tell them either not to do it or go ahead and set up a fund,” he said.
“With the DVDs we are not giving investment advice, just what to do and this is useful for people who run their fund out of a shoebox.”
Wilson said it was also important for people to maintain details of their fund and not just leave the paperwork with the accountant as they can change and then historic records are lost.
“We see a lot of people setting up funds, but they need help with how to manage the paperwork and the money,” he said.
The company plans to distribute the DVDs via financial planners and accountants, although it has created a website for direct orders.
“We would like to see a planner buy a couple of copies of the DVD and loan it to clients who are looking at setting up a fund or have one,” Wilson says.
“We are having early discussions with some dealer groups about distributing the DVD.”
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
