· A non- industry fund that offers industry fund fee structures.
A true competitor to the industry funds from not only a fee perspective, but from an investment menu view. The ability to select your own investment strategy, and alter it at any time ensures a unique offering. No industry or current public offer fund can offer a true DIY/ SMS without the need for an accountant or auditor which inevitably abolishes the need for an ongoing fee usually exceeding $2000 per annum.
· No commissions to financial advisors
Much has been said and will continue to be said about commissions paid to financial advisors. This has come to light as many Superannuation products available in the market place have what are ‘inbuilt’ commissions that are paid the advisor responsible for the account. The current government has commented on this by suggesting abolition of this structure. This move, if adopted, will reveal the true cost to bring a product to market, which is why cleversuper.com.au is an innovator in the superannuation industry and will start a paradigm shift in the way products are made available to the public.
This topic will ultimately bring about a ‘change of terminology’ to the financial planning industry. Although full disclosure in relation to financial products and commissions is in place, the industry will move to a situation where all products are offered at their ‘true market cost’ i.e. The costs involved to bring the product to market, and advisors will have the ability to charge a fee for the original investment and strategy advice, and an ongoing fee for proactive management which can range from 0.25% to 1.1% per annum. This change of terminology will bring transparency to the market place and accountability to financial advisors for fees payable by clients. It is urged and industry funds offer companies this charging structure also making their products available to those who wish to ‘pay for good advice’
· Direct offer superannuation fund.
This is a true ‘stripped’ product offered to all member of the Australian public. This fund is not a Self Managed Superannuation Fund. Self Managed Superannuation funds require the establishment of Shelf Company, establishment of a cash account, share trading accounts, ongoing management fees for investments, platform fees, possible establishment of associated unit trusts, changes to trust deeds and legal structures for property that have large costs, tax return costs and auditing costs. This list is not exhaustive. Please note that to complete the majority of tasks and requirements that are listed above, the services of a registered accountant are required.
Cleversuper.com.au can abolish 99% of the above costs. No set up costs, no audit costs, no tax return cost. No visit to the accountant. No shelf company. No individual trust deed. No separate cash account. No separate share trading account. 1 transparent annual fee that decreases as your fund grows. CS is a fully complying superannuation account providing all administration and reporting each year.
· Public offer superannuation fund with a fully flexible investment menu
Investment using any current public offer superannuation fund, eg, MLC Masterkey, ING Oneanswer, Sunsuper, Hesta, (any fund for that matter other than a Self Managed Superannuation Fund) you are presently governed by an investment menu. Managed funds and model portfolios are almost always, with only very few exceptions, comprise of the investments offered by the provider. To further explain, a MLC masterkey fund will offer investment choices of their own funds (MLC income builder, MLC Australian Share fund etc)
Cleversuper.com.au will offer an investment menu comprising of over 100 managed funds and access to the ASX 100 for investment into direct equities. Term deposits offered by the ANZ bank will also be available within the platform.
· Suggested model portfolios
Cleversuper.com.au will provide users and members with a number of useful tools. These tools will aid members in making an informed choice when selecting a portfolio and investments for their superannuation. Detailed research and reviews on current funds will be provided allowing the clients to remain informed about the underlying investments within their superannuation. These model portfolios will reflect actual recommendations provided by a licensed financial advisor, although will be listed on the site as tools and suggestions only.
· Risk profiling tools
A risk profiling tool (again similar to those used by licensed financial advisors) will be available on the site for those clients interested in determining their underlying feelings towards investment and the associated risk that investments carry. Through the use of this tool, clients may better understand their personal goals and be able to establish a more suitable and personal superannuation account.
· Quick and easy administration and set up
Cleversuper.com.au will endeavour to provide users of the site and clients with the most up to date technologies and real time account opening capabilities. Clever automated systems will allow reduced administration and ultimately increase the control available to the investor. 24/7 online reporting will allow clients to receive a snap shot of their superannuation investments and account balances at any time.
· Easy roll over from other funds
As above, cleversuper.com.au will incorporate new technologies that will improve the administration process of moving your super from old accounts, to the new fund of your choice. Allowing this process will eventually mitigate the issue of ‘selling down’ in what could be a inopportune time in the market.
· Insurance offering
Cleversuper.com.au partnered with ING life will offer members of the fund group discounts for Life, TPD and Income Protection Insurances. Competitive premiums and reduced application times will be a fundamental difference of the fund. Structuring of insurance through superannuation will improve the cash flow position however financial advice and the product disclosure statements should be carefully considered before establishing/ replacing insurances using this strategy.
· No trading costs
· Direct debit, BPAY and cheque payment options
· Trustee is the second largest bank in the world
· Quality service and call centre staff
· New age fund for Gen Y and Gen X
· Very marketable
· Own AFSL licence (pending)