I'm not going to say much on this topic, other than it looks like another "getting it away from the managed super fund") and with the research coming later regarding alternatives, which free will has alluded to well.
I understand that your mothers investment selection (perhaps a balanced fund, perhaps not but) definitely needed to change.
Given your strategy with some of the funds to "I am going to manage for her via shares same as I do for myself...here if the plan and history remains constant i should near double her investment yearly without too much trouble/true risk" and given your mothers limited assets, age and your brothers ultimate 'half-share' in any residual, then I politely ask the question: does your mother and brother actually understand your trading strategy and does it comply with the funds investment strategy? If your strategy fails, will you be reimbursing your mother/brother? Remembering that SMSF's don't have the same complaint procedures available to them.
The Centrelink question is a good one, as I suggest you familiarise yourself with their requirements where an SMSF is involved and perhaps your brother, especially if you won't be nearby to help with the forms and updates when requested.
I too have an SMSF (for disclosure) and often post this kind of challenging questions, so don't take this personally or attack any perceived motivation, I'm just playing a Devil's Advocate here and trying to help spread the education message about SMSF's.
