Is Australian Super’s major enhancement option as “good as having a self-managed super fund” (SMSF)?

Competition for superannuation members is heating up. Australian Super this week announced a major enhancement to the way its members can invest. It went as far as claiming that the option was almost as good as having a self-managed super fund. In reality it poses more of a threat to the continued existence of commercial super funds. The continuing popularity of self-managed super funds was reinforced this week by the release of statistics by the Australian Taxation Office. They showed that the assets managed by SMSFs grew by 122 per cent over the five years up to 2010, compared with a growth rate of 60 per cent for the total superannuation industry.
See ARTICLE Max Newnham writes in The Age, page 6

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Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
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