Self Managed Super Funds
With Self-Managed Superannuation Funds (SMSFs), you have the opportunity to set up a super fund that you fully control, ensuring it aligns with your unique retirement goals. However, as with any customized approach, it requires time, effort, and a high level of responsibility. That’s where our specialist SMSF services come in — we help you with setup, provide tailored advice, and guide you on investment strategies. For your convenience, appointments can also be scheduled with external experts to ensure you receive comprehensive support every step of the way.
Understanding Client Needs and Objectives
Initial Consultation: Conduct a thorough consultation to understand the client's retirement goals, risk tolerance, investment preferences, and financial situation. This will shape the advice provided on structuring the SMSF.
Compliance with Best Interest Duty: Ensure all advice serves the best interests of the client. Any recommendation provided should be tailored to their individual circumstances.
Estate Planning Integration
Beneficiary Nominations: Offer advice on binding and non-binding death benefit nominations within the SMSF, helping clients structure their fund in a way that aligns with their broader estate planning goals.
Advice on Regulatory Changes
Staying Informed: Keep up to date with any legislative changes or ATO rulings that may affect SMSF regulations. Provide clients with timely advice on how to adjust their SMSF strategies in response to regulatory changes.
Reviewing and Updating Strategies: Regularly review clients’ SMSF strategies to ensure continued compliance and to adjust for any significant life events, market conditions, or changes in superannuation laws.
Providing Accurate and Timely Advice
SMSF Setup Advice: Guide clients through the process of setting up an SMSF, including the establishment of the trust deed, registering the fund with the ATO, and selecting trustees. Ensure all steps are compliant with superannuation law.
Tax Minimization Strategies: Advise clients on tax-effective strategies, such as concessional contributions, non-concessional contributions, and transition to retirement strategies to minimize tax within the fund.
Investment Strategy Guidance: Help clients develop an SMSF investment strategy that complies with ATO regulations and aligns with their retirement objectives. Advise on asset classes, diversification, and risk management.
Contribution and Pension Planning: Provide advice on how much can be contributed to the SMSF within the caps, when to start drawing a pension, and how to comply with minimum pension withdrawal requirements.
Risk and Compliance Management
Risk Assessment: Internally, maintain a compliance checklist and risk assessment framework to ensure that all advice provided is compliant with the Superannuation Industry (Supervision) Act (SIS Act), ATO guidelines, and Financial Services legislation.
Documentation: Ensure that all advice, including records of meetings, strategies proposed, and actions taken, is well-documented. This helps in maintaining a clear audit trail for both internal compliance and external audits.
Educating Clients
Trustee Training: As part of your services, offer regular education for SMSF trustees on changes to tax rules, investment options, and compliance requirements. This will help them remain informed and confident in managing their fund.
Ensuring Ongoing Compliance
Trustee Obligations: Continually advise SMSF trustees on their legal responsibilities, including keeping records, submitting the annual SMSF return, and ensuring contributions and pension payments meet legal standards.
Compliance Audits and Tax Reporting: Assist clients in preparing for independent SMSF audits, ensuring all tax reporting obligations are met, including compliance with contribution limits and investment restrictions.
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Experience the difference with our expert team by scheduling an appointment. Receive personalized accounting and advisory services, meticulously tailored to meet your unique needs.
