Did a quick calculation re Superhero It would cost $31,878 to buy the 300 shares plus $1,500 brokerage, so $33,378 capital outlay. Selling down to 1 share would yield $26,378 (excluding the spread) after the $5 sale brokerage. At current prices the 300 shares are worth $3,940. So exit proceeds would be $2,440. So the cost to setup & exit would be $4,560.
With the current valuation of my 300 shares, $3,000 application fee & brokerage the same setup & exit would be $5,842. And I've had the benefit of capital gains since the end of Sept.
Re on going brokerage 15 SPP per year at average allocation $15,000 with 5% gain would have brokerage fees of approx $1,535 with SPP Harvester vs $75 on Superhero
SPP Harvester Gross profits $11,250 Less brokerage -$1,535 Net $9,715 Less performance fee 20% -$,1943 Less annual mngt fee -$540 = $7,232
Superhero Gross profits $11,250 Less brokerage-$75 = $11,175
So the answer is yes it is cheaper if you can buy $100 of shares via Superhero & considerably more profitable going forward. However the paperwork generated would be horrendous. 300 ASX holding statements, updating tax & bank details on 300 registrar accounts, dividend receipts of a few dollars or less x 500+(?) a year. You certainly would to have a separate trading account you only used for SPP's plus a separate HIN number IMO to keep things simple.
