Looking for a new Super Advisor, page-11

  1. 3,448 Posts.
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    Interesting; all the comments about fees

    SMSF fees are what they are; you KNOW what you are paying each year



    An SMSF with $5 million will pay around $5,000 in accounting and audit fees


    If you guys could see how much people pay in fees with managed funds you would be staggered

    A classic example

    Had a client with about $5 million in super

    All in managed funds

    Fund A buys into several other funds eg B C D E F

    Fund B buys into other funds, as do C D E and F

    Fund C buys into fund F which buys into Fund A which in turn buys into fund D that buys into fund A

    By time you have finished, all these funds end up buying into each other

    Your original funds report to your the fees you have paid with them; you DO NOT see all the fees paid by the funds they have invested in

    Did a quick envelope calculation and this client was really paying around $100,000 a year in fees


    Would not touch a managed fund with a barge pole

 
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