Do you Understand Your Super?

Do You Understand Your Super? Super Fees, Taxes & Service
By Gary Lucas Director of MG Financial Planning
December 7, 2009

Like all investments super has been through a difficult period.  Some key points in relation to your super are that you:

  • Remove unnecessary fees
  • Reduce other fees
  • Get value for fees
  • Your fund passes on a lower tax rate to your super account
  • Take advantage of strategies that are available to you
  • Focus on your goals - what is important to you?
  • Ensure your portfolio is well constructed & well diversified across & within asset classes
  • Have a plan for managing your cash flow, now and in retirement

A Comparison

Below is a comparison between our service and fees with that of a Melbourne based planner trying to service the area. 

  

Other

MG Financial Planning
Entry Fee on Contributions
This is of no value to you and we believe it is inappropriate to charge this fee.

3.0%

Nil
Fee deducted from your salary packaging for each contribution
This is of no value to you and we believe it is inappropriate to charge this fee.

$9 per month

Nil
Ongoing Fees
The level of fees is important as is the service that comes with the fee.

3.07%

1.5-2.5% and reducing as the balance grows
Service
In one example we found that some very obvious advice and strategies should have been recommended by the other planner.  We initiate contact and provide recommendations as part of our ongoing service.

Reactive

Proactive

 

We are a local firm with the experience and the quality and quantity of staff to help you.

Please call Ben Lancaster or Gary Lucas for a second opinion.