Retail platform funds, also known as for profit funds, are superannuation funds that are generally owned by a private company. Due to the heavy competition in this area, the market funds compete extensively not only between themselves but also with industry funds and self managed superannuation funds in an attempt to gain more members. Superannuation planning is crucial to any retirement or wealth creation plan; and a Sydney Financial Planner can help you determine whether a retail superannuation fund or other type of superannuation investment is the best for your unique circumstances.
Retail superannuation funds are available to the public and since legislation changes in 2005, enabling people greater ability to select their own superannuation fund, this portion of the market has expanded substantially. In some cases a minimum start up balance will be required; sometimes in excess of $2,000. Accordingly, these types of superannuation funds are normally not used by people who have just started their working career.
Depending on where you sit in the investment cycle and your personal preferences, this form of superannuation fund may be beneficial to you. There is generally a wide and diverse scope of investment options available through a retail super fund, as well as various other benefits such as life insurance and TPD insurance. However, there are downsides to retail superannuation funds, mainly that there are often higher account keeping fees and commissions being paid to financial advisers.
A Sydney Financial Advisor at Navado can help you determine what type of super fund is appropriate to meet your financial objectives and risk profile. With a wealth of experience and an acute awareness of a diverse range of investment products available on the market, our Financial Advisers can help you source and implement a superannuation fund suitable for your goals.
Contact our office on (02) 9233 4048 to arrange a free home consultation with an experienced Financial Planner.
Navado Financial Advisors Pty Ltd is a Corporate Authorised Representative of Lifespan Financial Planning. A.B.N. 23 065 921 735. AFSL 229892. This webpage (and any material or wording appearing on this webpage) is provided for information only and constitutes general financial product advice. It does not take into account your objectives, financial situation or needs and you should therefore consider the appropriateness of the advice, in light of your own objectives, financial situation or needs before acting on this webpage. When making decisions about any financial products you should obtain a copy of and consider the Product Disclosure Statement for that product before making any decision. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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