Agree of course an SMSF gets cheaper to run as the size increases due to fixed charges. Also great for family combined accounts and estate planning , LRBA's ,etc.
I did spend four years in a call centre in a large govt department listening to the world of pain that many small SMSF trustees endure .
But for the average retiree an IOOF share platform in pension mode for say < $500k balance , is .5% pa fee (plus $38 per trade !) My fund performed 20% pa for last five years (till Dec 2018 anyway! ) just by buying the dips (eg : BHP @ $15) and trawling through HC,AFR etc. No advisers or outside help.
Best part is zero documentation , CGT free trades and 100% ff dividends .
The famous lament of most retirees is "I paid tax all my life" but this claim is looking a bit lame now that the well advised ones (direct shareholders) are saying "we want the money back".
The ALP did not need to raise a tax issue which is so unpopular . Perhaps there's a "good for the country" view to consider.
Surfs up gotta go.
BHP Price at posting:
$35.55 Sentiment: Hold Disclosure: Held
(20min delay)