This is what I found out so far.
You can chose any broker that accepts SMSF's. I like that because I am likely to choose Saxo Capital Markets, with access to 19,000 companies world wide. They manage about 1,250 SMSF with 250 assigned to each manager. You can call and email your manager during business hours. They use Macquarie as cash management account default and Desktop Brokers for default Australian share broker. Other info received from them below
Establishment and annual administration fee agreement
Summary of fees
Establishment of Self Managed Super Fund, inclusive of:
• Establishment and registration of SMSF Trust
• Establishment and registration of Special Purpose Corporate Trustee Company
• Establishment of SMSF governing rules
• Establishment and registration of investment strategy
• Registration with Australian Tax Office
• Submission of “Election to be regulated” Compliance statement
• Establishment of accounts with service providers
• Rollover of other superannuation funds into SMSF
☐ Fixed Fee $2,882.77 (Ex GST) – Hard Copy File
☐ Fixed Fee $4,006.52 (Ex GST) – Files provided on iPad Air 2, 64GB Wi-Fi + Cellular.
To assist clients, Squirrel funds all upfront establishment costs including payments to regulatory bodies including ASIC, ATO then recovers these costs from the SMSF cash account once the rollover of external super fund/s has been completed.
Annual Administration Fee, inclusive of:
• Annual compliance, administration and maintenance of SMSF
• Annual return of Special Purpose Company
• Setup of Bare trust and bare trustee if lending for property is required
• Annual Independent Audit
• 24/7 access to Squirrel online SMSF management portal
• Business hour access to Squirrel technical experts
• Fixed fee for 1 – 4 members and any number / value of assets
Fixed Fee $110.00 per month (Ex GST) deducted from SMSF cash account
Financial Services and Credit Guide
Version 2.0
October 2015
Prepared by Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 AFSL and Australian Credit Licence 462160.
A wholly owned subsidiary of Squirel Ltd ABN 64 605 835 514. FSG version 2.0, 01/10/2015
Purpose of the Financial Services and Credit Guide
This Financial Services and Credit Guide (FSG) is an important document that outlines the products and services that Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 (‘Squirrel’, ‘we’, ‘our’, ‘us’) is authorised to provide under our Australian Financial Services License (AFSL) and Australian Credit License.
This document is designed to help you decide whether to use any of the services offered by Squirrel. It also provides information about:
Who we are and how we can be contacted
The financial products and services we can offer
How we, and any other relevant parties are paid
Our relationships with others and how these could influence the advice we give you
How complaints about us are handled
Where to get details on our privacy policy
This document replaces any previous FSG issued by Squirrel.
Who is Squirrel?
Squirrel is an Australian Financial Services Licensee who provides intuitive, innovative self-managed superannuation fund (SMSF) services with amazing features to assist Australian’s to take control of their retirement.
Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 is the holder of AFSL and Australian Credit License number 462160 and is a wholly owned subsidiary of Squirel Ltd ABN 64 605 835 514. For more info visit www.squirel.com.au
What financial and credit services and products do we provide
Under our license, Squirrel is authorised to provide financial product advice to retail and wholesale clients and deal in the following financial products:
Deposit and Payment products – Basic Deposit
General Insurance (advice only)
Life Risk Insurance Products
Managed Investment Schemes, exc IDPS
Retirement Savings Accounts
Securities
Superannuation
In some circumstances, we may provide you with credit assistance; this can occur when we recommend that you make a loan application, stay in your current loan or apply for a particular loan.
Squirrel is not authorized to provide advice or deal in the following financial products:
Derivatives
Margin Lending Facilities
Foreign Exchange Contracts
Government Debentures, Stocks and Bonds
We provide these services through our member service centre and our online administration system.
The type of advice
We do not provide personal financial product advice and do not make recommendations about any of the products and services described in this FSG.
Financial Services and Credit Guide
Version 2.0
October 2015
Prepared by Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 AFSL and Australian Credit Licence 462160.
A wholly owned subsidiary of Squirel Ltd ABN 64 605 835 514. FSG version 2.0, 01/10/2015
Any general financial product advice that we provide is prepared without taking into account your objectives, financial situation or needs. If you require personal financial product contact your financial adviser.
Who will be providing the Financial Services described in this FSG?
Squirrel acts for the trustees of self-managed superannuation funds when we provide the services described in this FSG.
Our staff will be involved in providing these services.
We do not appoint authorised representatives or financial advisers to provide financial services to clients.
Other documents you may receive
Squirrel provides a SMSF administration service to the trustees of self managed superannuation funds.
At your request, we may refer you to external providers of financial products and services or arrange for them to issue products and services to you. If this occurs you will be provided with Product Disclosure Statements / Product Information Statements for the financial products and services that these organisations issue.
The payments and benefits our employees receive
Remuneration of our team varies by role and function. Generally, however employees receive a combination of salary, superannuation and where appropriate incentives for achieving above average performance measured by a balanced scorecard.
Squirrel offers products from external providers
Squirrel holds commercial relationships with a number of product and service providers. The purpose of these relationships is to allow us to provide an efficient, effective and cost competitive SMSF administration service for our clients.
It is not mandatory for trustees of SMSFs to utilise the services of these firms with the exception of the Cash Management Account provided by Macquarie Bank Limited as this facility provides transactional reporting necessary for the efficient administration of a SMSF. As for other providers, ultimately the trustees decide which products and services are used and which providers they will utilise.
How we are paid
We are paid fixed dollar fees directly by the trustees of funds we administer for administration and administration related services. Our annual administration fee is $1,320.00+GST and is charged by direct debit on a monthly basis. The cost to establish a fund including corporate trustee, multiple trusts including those necessary for limited resource borrowing arrangements is a fixed cost of $2,882.77 + GST which, at Trustee discretion can be debited from SMSF bank account post establishment.
Squirrel, has made a commitment not to accept commissions, volume rebates, kick-backs of any kind from any product provider. As a result and where possible, Squirrel negotiates with providers to lower wholesale costs for the benefit of our clients.
Financial Services and Credit Guide
Version 2.0
October 2015
Prepared by Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 AFSL and Australian Credit Licence 462160.
A wholly owned subsidiary of Squirel Ltd ABN 64 605 835 514. FSG version 2.0, 01/10/2015
Professional indemnity insurance
Squirrel confirms that is has arrangements in place to ensure it continues to maintain Professional Indemnity Insurance in accordance with s.912B of the Corporations Act 2001 (as amended).
Complaints
You may advise of any complaint or dissatisfaction with our services or advice provided to you. The following dispute resolution procedure is in place to ensure that your enquiries and complaints are handled efficiently.
Contact Squirrel and advise us of your complaint. One of our Member Services team will attempt to resolve your complaint and will notify you of any proposed resolution as soon as possible.
If your complaint is not resolved to your satisfaction, please send a written complaint addressed to:
The Compliance Manager
Squirrel Superannuation Services P/L
GPO Box 2725
SYDNEY NSW 2000
If a satisfactory outcome is not reached within 45 days of your initial complaint, you may complain in writing to The Financial Ombudsman Service (FOS), of which Squirrel is a member.
The FOS can be contacted as follows:
Financial Ombudsman Service
GPO Box 3 Melbourne VIC 3001
Telephone: 1300 780 808
Email: [email protected]
Internet: www.fos.org.au
How can you contact us?
You can contact Squirrel in the following ways:
Web: www.squirrelsuper.com.au
Email: [email protected]
Phone: 1300 500 499 (+612 8823 7999)
Postal Address:
GPO Box 2725
SYDNEY NSW 2001
Business Address:
Level 7, 50 King Street
SYDNEY NSW 2000
