I have a superfund set up with Esuperfund ... it is a brilliant system & ridiculously cheap - for larger amounts!
Facts to consider ... ***They only do the paperwork .. You do ALL the research, investing, buying, selling, etc ...the buck stops with you. I want control, so that suits me OK. ***You have to trade separately with Commsec ... I hate them! But I put up with it. ***You then have to have a separate bank account with either ANZ, are Maquarie
So it is a little messy at times with three separate entities involved
Cant think of any other negatives!
OPTION 2
I would SERIOUSLY consider this option if you only have 17k to PLAY WITH. I also have another superfund account held in a NETWEALTH Super Wrap account. Back in the mid-2000's when I was still in the workforce I transferred $10k from my Personal Employer-funded super over to Netwealth and began share trading my own superfund, and I have still kept that fund going separately until today - now worth many multiples of that original figure. Here are some blurb details of what they offer:
Netwealth Super Wrap The netwealth Super Wrap is a flexible and tax effective way for you to save for and enjoy your retirement. The fund offers a wide range of investment opportunities in which you can invest at any time. Your investments are under your control (subject to our approval as trustee) so all you have to do is advise netwealth about how much you wish to invest (subject to minimum/maximum investment limits) and which investments you choose to invest into. Netwealth then handles all the transactions relating to these investment choices.
*A simple, easy & cost effective way to manage your Super whilst maintaining control. *Ability to invest into any ASX share for only $20 per trade. *Search, compare & invest into 260+ wholesale managed funds. *24/7 web access to monitor, transact and report on your account. *A range of FREE tools and information to help you make informed decisions. *A dedicated and friendly Investor Service team that is there to help!
In many ways they are better than the Esuperfund option, especially if you only have a modest amount of around $17k. Beside broker fees per trade of $20, their total annual fee to run the entire superfund is only .94% - (that is less than 1%). So on your $17k investment, they would only charge you $160.22 p/a. So they are MUCH cheaper than Esuperfund on any small amounts, and they remain cheaper until your super hits $64k, from then on the $599 charge by Esuperfund becomes better.
Everything is done online, they do all the paperwork, audit, tax etc, and your cash account for share settlement is through them ... all you have to do is buy & sell. They do however have a 20% max limit per share on any shares held that are in the top-200, and a 5% max limit on any other shares or options. That can be a pain if you want to put more into one share ... but this can be a real protection as it forces you to diversify your portfolio, and limit losses in any correction.
Another thing I like about them is that they manage all share issues and rights issues for you. They just email you the form to sign how many you want to apply for, you email it back, and just sell a few shares to leave some cash in the kitty to cover the issue, and its done.
Honestly for someone new to the markets, or just entering the SMSF world, they are hands down the best and cheapest ou there! Yes there are others offering Superwrap accounts, but when I last researched, every one of them had a minimum $50k startup, and some $100k .... Netwealth has a minimum of $10k as your start amount.
Seriously worth checking if you only have $17k ... here is a link:
