Superannuation is a double edged sword in many ways. On the one hand, it’s a global stand-out in terms of a successful national scheme ensuring everyone puts some of their income towards a comfortable retirement. On the other, many Australians are not engaged in their super funds due to lack of transparency and control. Many funds are index trackers, and members have few reasons to engage with their super accounts.
For the motivated investor there are SMSFs, which have seen enthusiastic uptake in recent years. For those who are already savvy investors, and those with large balances, SMSFs have been a natural fit. However, for many, SMSF is seen as too expensive, or too much trouble, even if that would actually be the best option for them.
Now, for the first time, there is a third option. WealthO2 Super Simplifier offers investors an SMSF-like experience without the cost or the hassle. Working with an adviser, investors can choose a mix of assets perfectly tailored to their superannuation goals. And while all accounts are kept separate, the trustee owns the assets on behalf of the members, meaning security in the assets whilst administration is streamlined and costs are kept low.