Hi wombat for responding. At risk of being too pedantic, I'd like to elaborate on your experience a little.
you said: In relation to my Superfund fees here is a break down of charges:
Administration fee - 1.5% - Wow, that is high and if it wasn't reducing with a balance of $350k then it must have been a 'retail' one and not appropriate for that amount. A wholesale one should probably cost about half, give or take.
Contribution fee - 1.1% - This is quite separate from your ongoing fees and usually is compared separately. This would / should have been disclosed clearly when the fund was setup and is often forgotten when large amounts are contributed. That said if it was agreed, it was agreed, but can't be part of the 4.23, which is now really 3.13% pa.
Management fees (depending on which fund) 0.44% up to 0.98% - These are wholesale and quite usual, especially if using managers that are in specialist areas / markets, otherwise lesser is usual better, or ETF's perhaps. Even Industry Funds pay these even though it's often buried.
Advisor/Service fees - 0.65% - Hopefully you got some services / advice / assistance for that, maybe not every month or year but some contact and offers. No matter which fund you have, you either pay for advice, spend your own time doing the research and / or getting it right or maybe getting it wrong, r maybe not ever knowing. Either way there's a cost there somewhere to live in this damn complicated world.
After a couple of years of complaining of the high fees they waivered the contribution fee of 1.1% - Excellent!
I hope you have a much more satisfactory set-up now. Overall in the above I'd say it seemed to be a smaller / higher priced fund that grew over time but wasn't changed to a more appropriately priced option until too late.
Thanks for your response and hearing my thoughts. Cheers
