The GFM Self-Managed Superannuation Fund Service
For the right person, an SMSF can offer significant benefits, such as flexibility, potential tax savings, total control of your retirement savings and reduced administration fees – especially for those with a larger investment in super. But SMSFs are not for everyone, as with greater control comes more responsibility for your own retirement income. As the trustee of a SMSF, you are responsible for its administration, investment management and compliance – no small task.
This is where GFM’s SMSF service can help; with the day-to-day housekeeping as administrator for your fund.
Why use the GFM SMSF service?
We have been providing a comprehensive SMSF investment management and administration service to clients since 1996. We specialise in SMSFs; our five financial planners are all highly qualified in the SMSF sector and we are one of the larger SMSF providers in Melbourne, providing a complete “end to end” service.
All our SMSFs are actively managed to take advantage of strategies to create long term wealth and provided with opportunities to invest in a wide range of investment opportunities.
Our strongest asset is our many years of practical day to day experience in dealing with the legislative, operational requirements and investment management of SMSFs, backed up by friendly, personalised and prompt service from our specialist SMSF team, most of which have been with our organisation for in excess of 10 years.
We handle all of the correspondence relating to your fund’s investments on your behalf and attend to the statutory obligations to make sure your fund remains compliant at all times.
If you already have an SMSF, we can provide a comprehensive analysis of your current superannuation arrangements, strategic advice pertaining to your existing fund’s structure and pre-retirement and retirement needs, a comprehensive portfolio analysis and ongoing review and management of your portfolio.
Getting the right advice and expert guidance are so important when you’re establishing your SMSF. We proudly specialise in SMSFs – we provide you with a total solution to your SMSF needs from establishment through to ongoing management of administration and compliance requirements, investment advice and portfolio management, convenient access to your account online and friendly, personalised service.
The Functions That We Perform
As a specialist SMSF investment and administration firm, we provide a complete “end to end” SMSF service and every part of that service is provided in-house (except of course the audit) and no part of the process is outsourced to any third party – we do it all.
The functions that we perform include at least the following:
- Establishment of a new SMSF.
- Recommending and implementing an investment strategy.
- Regular reporting to trustees, including an on-line portfolio system that is updated daily, comprehensive quarterly reports and a full fund review on at least a yearly basis.
- Active management of the investment portfolio.
- Preparation of the annual taxation return.
- Preparing the annual accounts for the fund and organising for the completion of the fund audit.
- Preparation of annual member statements.
- Maintaining all fund records including member account balances, maintaining records for preserved and non-preserved benefits, the taxable and tax-free components, member contributions etc etc.
- Maintaining insurance benefits as required.
- Compliance with SIS legislation and tax law.
Our Investment Management Service for SMSFs
Superannuation is a complex area, particularly in relation to SMSFs as there are strict rules about how each fund is invested, managed and structured. Our expertise ensures that your fund is tailored to your personal needs and is positioned to grow your finances to build real wealth.
We have a very strict direct investment philosophy. In other words, every investment owned by your SMSF is registered in the name of the trustees of the fund (who are the members as well) and there are no “third party” ownership arrangements. As trustees of your own SMSF, you have an almost unlimited investment universe, including at least the following:
- Australian and international shares
- Property trusts – listed and unlisted
- Direct property – commercial, industrial, retail and residential
- Wholesale managed fund investments
- Bank bills, cash accounts, term deposits, bonds, debentures, floating rate notes
- Preference shares, hybrid securities
Our SMSF Administration Service
We arrange all the paperwork that is necessary to set up your fund. Our SMSF Setup service includes the preparation and lodgement of:
- Trust Deeds
- Minutes of first trustee meeting
- Member applications
- Tax File Number Application
- Australian Business Number Application
- Trustee Declaration and Consent to Act as Trustee forms
- Investment Strategy
- Death Benefit Beneficiary Nomination forms
- Fund Bank Account application
- Rollover documentation
On an ongoing basis we provide the following administrative services:
- Banking of deposits and recording of all transactions and income for the fund
- On-forwarding of investment-related correspondence with recommendations where applicable
- The preparation of paperwork to commence all types of pensions
- Preparation of pension / lump sum withdrawal paperwork and annual PAYG Payment Summaries
- Organising the annual tax return & audit of the fund accounts
- Organising actuarial certificates when required
- Drafting of minutes of trustee meetings
- Completion and lodgement of Business Activity & Instalment Activity Statements
- Advice regarding compliance with the Trust Deed and the SIS Act & Regulations
Keeping you regularly informed:
Being kept up to date is very important, so as part of our ongoing service we provide you with the following:
You will receive a comprehensive report that summarises your fund’s position at the end of each quarter and transactions during the quarter. The report also provides detailed commentary on the performance of your investment portfolio and recommendations where applicable.
Online access to your portfolio:
We will provide you with a login to view your portfolio online via our website. The online portfolio service is easy to use and provides the following information at your fingertips:
- Daily valuations of investments
- Asset allocation
- Cash account transactions
- Purchases and sales of investments
- Income paid and accruing to the portfolio
Regular client seminars and newsletters:
We run regular educational seminars covering a range of topical issues such as superannuation and retirement planning, updates on legislation, e.g. the Federal Budget, the outlook for investment markets, etc.
We also issue a number of informative newsletters throughout the year, as well as a Weekly Email. More information on our seminars and newsletters can be found by clicking here.
As the trustee of your own SMSF, you are responsible for the proper operation of your fund and it is important that you comply with all superannuation and taxation laws.
Trustees do have important responsibilities, but trustees are able to outsource most of the day-to-day activities of the fund to a SMSF specialist provider, such as our firm.
Our full service and expertise are available to the trustees to help them make reasonable decisions on behalf of the fund and we only take instructions from the trustees in regards to the management and investment of the fund. Changes will only be made to the fund when we receive your approval.
The trustees must ensure their duties are carried out in a proper manner so that the objectives of the fund, being the provision of retirement and other benefits for the members, can be attained.
As part of our service, we will recommend an appropriate investment portfolio, suited to the needs and the risk profile of the fund members and we will monitor that portfolio on a regular basis and advise trustees if changes should be made.
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