As well as managing clients’ self-managed super fund (SMSF) investments, we attend to all of their funds compliance and consultancy needs. We ensure that a client’s fund adheres to the stringent legislative requirements for SMSFs. This includes the preparation and lodgement of your Fund’s annual financial statements, statutory returns, associated audit, quarterly Instalment Activity Statements, surcharge returns, advice and implementation of pension payments and retirement benefits, PAYG payment summaries, and any correspondence with the ATO.

If you are near retirement, we undertake portfolio reconfiguration (moving assets to a yield basis, etc.), and allocated pension advice and calculations at no cost.

Transaction fees apply in some cases and are fully disclosed where incurred. Brokerage paid to third parties for share transactions is at discounted rates. There is no portfolio establishment fee, nor any entry, rollover, or exit fees.

Establishing a SMSF

SMSFs are governed under a Trust Deed & Rules and as such various statutory documents need to be prepared. We can facilitate at reasonable cost, the establishment of a Trust Deed and all associated documentation for you through a firm that specialises in this area.

The next step in the process is to nominate who the Trustees and members are to be. It needs to be noted that Government legislation governing SMSFs requires that Trustees and Members of the SMSF be one and the same. The members must not be employed by each other unless they are kin. Should a Corporate Trustee be required, similar concepts apply with Directors and Members, with some special exceptions. You may call the fund whatever you like but something along the lines of “The (Name of Client) Family Superannuation Fund” would be suitable. This choice is yours.

Opening a Cash Management Trust Account

Once the SMSF has been established a cash management account is opened for the SMSF to receive any rollover monies and to receive all future contributions, income and the like as well as being the focal point to meet future expenses of the SMSF such as taxes and statutory charges. All investment transactions (purchases, sales etc.) will also go through this account. We do not recommend the use of a standard bank account due to higher charges and generally lower interest rates.

Selection of a Service Provider

There are two aspects of service provision that need to be considered when appointing a service provider: investment management and compliance. We are able to provide a service that caters for both aspects.

The benefits of our Service to you from an investment point of view are that your new SMSF would obtain proactive investment advice as well as asset allocation recommendations and guidance.

We prepare the statutory accounts and returns of your SMSF and arrange for the audit of the fund. Grosvenor also provides the technical and compliance expertise required for your fund. Thus, the level of comfort on both investment and compliance aspects should be high.

You may at any time discuss any aspects of your superannuation affairs with either our in-house superannuation specialist or your Adviser.

Transfer of Existing Superannuation Monies

Once the above steps have been taken, you would determine what amount of your current superannuation arrangements you wish to transfer into your new SMSF.

While this can be a relatively simple process that generally involves forwarding transfer requests to the various parties concerned, it can be very time consuming. We would attend to all of the transfer issues for you at no cost. No exit fees, and certainly no ‘entry fees’, are payable to Grosvenor.

Arranging Future Contributions

Your future superannuation contributions will be paid into your new SMSF. This will merely involve the forwarding a cheque (made payable to your SMSF) to Grosvenor as and when the need arises. Alternatively, we can set up automatic payments from a nominated account to be credited to your SMSF.

Once your fund is established, Grosvenor acts as your ‘guardian’ to ensure your interests are protected. Working with your Adviser, our Superannuation Group acts as an architect to design and facilitate the best superannuation solution to meet your individual needs. Your superannuation solution is an important, tax effective part of your wealth generation and estate planning strategies.

All meetings and any other consultancy time (phone calls etc - see Accessible Advice) are included in our quoted fee scale that is based upon assets under management and is commensurate with the success and growth of clients’ portfolios. We do not bill for our time other than for one-off special projects as directed by you and with all associated costs being agreed in advance. Further details regarding Grosvenor’s fee scale are available upon request and are fully disclosed during any initial complimentary meeting.