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Meet the team


If you're thinking of setting up an SMSF,

get in touch and we can help you work out if that is the best thing for you.

SMSFs have become a popular way for some Australians to manage their retirement savings, but before jumping into it, you should take time to understand the considerations. Is an SMSF really the best option for you?

Taking control and making decisions

In our experience, the people best suited to SMSFs are those who are looking for a greater level of control and visibility of their retirement savings. This doesn’t mean you need to do it alone or become a financial expert, but an SMSF will be a learning process for anyone who is just getting started. 

Being responsible for investments

Running an SMSF involves making decisions about how you are going to invest. Exactly how involved you are depends on your level of confidence to make decisions. Many people prefer a level of professional support to assist the decision making process. While others are confident building and managing their own investment portfolio.

Is it cost effective?

SMSFs can be very cost effective. Generally, with starting balance of around $500,000 and an expectation that the fund will continue to grow, a self-managed fund will be beneficial.

The costs you should consider when running a self managed super fund are the annual tax return, audit, ATO fees and investment costs. Which will vary depending on how simple or complex you want to make your SMSF. Other costs relating to specialist advice should also be considered.

Being a trustee

SMSFs fall under extensive compliance laws, which as a member or trustee makes you liable to uphold the integrity and investment strategy. This is why most trustees have an SMSF specialist like Beattie Financial Services, assist with the accounting, administration and provide investment advice if needed.


It is a legal requirement for you to consider what insurance cover you have in place for your superannuation. You can purchase insurance within an SMSF, although you may find you have suitable insurance cover within your existing super funds. We can help you determine the best way to go about dealing with your funds insurance.

Are you aware there is no statutory compensation for SMSFs?

Unlike public super funds, SMSFs are not subject to prudential supervision by the Australian Prudential Regulation Authority (APRA). This means that in the event of theft or fraud resulting in a financial loss, SMSF members are not eligible to apply for government financial assistance. 

Not going to live in Australia?

You need to be an Australian resident in order to create an SMSF. If you are expecting to live outside of Australia for an extended period (1-2 years or more), you should seek professional advice. The ATO has strict rules and regulations in place, whereby extended leave from Australia can result in your SMSF being deemed non-compliant and incurring heavy penalties. 

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