A Self Managed Superannuation Fund, better known as SMSF, has become a very popular method of managing your own superannuation funds. SMSFs have been the fastest growing segment of the superannuation industry and have the highest average member balances.

A SMSF is essentially an administrative trust structure that must comply with a set of rules for it to maintain the significant tax advantages afforded to superannuation.

There are many reasons, however, for the most part it comes down to three key points:

1. Control – You and up to three other members can take full control of your superannuation
2. Flexibility – Choose from a very broad range of investments and take advantage of tax effective strategies
3. Cost effective – SMSFs particularly for larger funds (greater than $500,000) are very cost effective to administer compared to traditional retail superannuation funds.

At Boston Private Wealth the majority of our clients have taken advantage of owning and operating a SMSF. We can work with you in many different ways including:

Commencing a new SMSF:

• Advise you if a SMSF is suitable for your personal situation
• When appropriate, set up a brand new SMSF whereby all of the administration is managed by specialists
• Work with you to establish the necessary Investment Strategy
• Provide regular updates with the latest developments for SMSFs and more broadly, superannuation.

You already have a SMSF:

• Work with your SMSF administrator, usually your accountant
• Provide the necessary investment records
• Advise you (trustees) to build the Investment Strategy

We have developed a great depth of technical knowledge as a result of working with SMSFs for many years. We have also developed good relationships with specialist SMSF administrators who take away the complexity of operating a SMSF.

We will also respect your existing SMSF advisers and work closely with them to gain the best possible results from holding an SMSF.