Buy US and global
stocks & ETFs with your super

An SMSF needs its own separate bank account. You have the option to instruct Grow to set up either an ANZ V2 PLUS Account or a Macquarie Cash Management Account (CMA).

• No account-keeping fees or transaction fees;
• Fast account set up;
• Data feeds and read-only accountant access;
• Australian-based customer service;
• Accepted by all industry and retail super funds for electronic transfer via SuperStream;
• Government Guaranteed up to $250,000.

You can compare the different bank account options here: SMSF Bank Account Options.

It is essential to note that using the Macquarie CMA or ANZ V2 PLUS Account is not compulsory to access Grow SMSF services.

Refer to our Advice Disclaimer for further information.

No. Grow SMSF is completely independent of any supported brokers including IBKR. We do not receive any commissions, referral fees or any other compensation whatsoever.

Grow SMSF offers a discounted solution to make a self-managed super fund more accessible for self-directed investors who choose Interactive Brokers to invest their super via an SMSF.

There are a number of differences if you were to compare Grow SMSF to many of the low cost online only service providers available.  We recommend anyone comparing SMSF service providers look at the following as part of their research:

1. Service: We provide personalised phone and email support.  You are not forced to make all communication via an online portal. Our phone number (1300 651 263) is readily available during business hours (AEST). Check to see whether other providers have a phone number you can call to speak to a human.
2. Transparency: Grow SMSF does not receive any commission or referral fees from any of the solution providers we work. Some other SMSF service providers receive commissions and other revenue which increase the ongoing costs of using their preferred suppliers.  Check the Product Disclosure Statement (PDS) of those providers to see how much they receive in commissions.
3. Work Required from you: Some providers are not ‘full service’ SMSF administration providers – they could better be described as an online accounting system with an SMSF audit and lodgement function attached.  Grow SMSF does not require you to categorise or code any of your SMSF transactions yourself.

The above is not a comprehensive list. Take a look at our blog to find more specific information on comparing Grow SMSF to other service providers.

Yes.

One of the most fundamental principles of a self-managed super fund is separation of assets. A separate brokerage account is needed in the name of the SMSF.

With Interactive Brokers specifically, you register a completely new and separate user account for your SMSF. It is a standalone account under a different login and username.

If you would like to manage multiple individual and entity accounts under a single login, IBKR enables you to set up a ‘Family Advisor Account‘.

Contact Interactive Brokers for more information. 

Yes, however there are some very important aspects to understand.

To understand Grow’s approach, please refer the following support article: Options trading in an SMSF

Where you invest in options via IBKR, this is treated much the same as buying stocks. 

This is very different to actively trading options or other derivatives.  Options trading falls outside of Grow’s fixed fee packages.

This means any additional work required by our team to correctly reconcile and account for options trading activities will be charged on a time-cost basis. 

The exact amount of additional fees applicable to options trading within an SMSF with Interactive Brokers will vary depending on the volume of trades and time taken to reconcile transactions.

The additional fees could be anywhere from $300 to $3000 per annum.

Exact fixed quotes cannot be provided as the fee will depend on the time taken to complete the necessary additional work. 

Yes, this is possible and usually a very straight forward process.

With most brokers, an outgoing ACATS transfer process will move all US holdings and cash to Interactive Brokers.

There is typically a fee of US $100 for the entire portfolio, however it can often be a lower fee (for example an ACATS transfer from Drivewealth – used by brokers such as Stake – only costs US $65).

Please note that fractional shares are not transferred with an ACATS transfer – only whole securities and cash.

A transfer of holdings from one broker to another does not trigger capital gains (where the source and destination are both the same beneficial owner, e.g. SMSF).

The process of transferring existing stocks with another US broker to IBKR is as follows:

• Login to your SMSF IBKR account and navigate to Transfer & Pay > Transfer Positions
• Select Incoming as the Direction 
• Select United States as the Region
• Choose ACATS as the method
• Enter the broker name and account number with that broker
• Submit the request 

Transfers usually only the a few days to process. Officially it is 4-8 business days, but can often be faster. 

Yes, there are other brokerage accounts supported and it’s possible to run multiple brokerage accounts inside the same SMSF.

In addition to IBKR for SMSF, Grow supports Selfwealth and Betashares Direct.

Selfwealth supports ASX, US and Hong Kong markers. Selfwealth provides CHESS sponsored ASX access (SMSF gets own HIN) and is a solid all-round platform for many investors.

Betashares Direct currently only supports the ASX, and uses a custodian model for holding your SMSF shares and ETFs.  The custodian is Citigroup Pty Limited. Betashares Direct has the advantage of $0 brokerage.

Grow can assist with the opening of accounts with all our preferred brokers. In addition we get accountant read-only access to reports and data feeds into our specialist SMSF accounting platform, making the administration of your SMSF seamless. 

Non-preferred brokers incur an additional annual fee of $385.

The choice of brokerage account is up to you.

The set-up fees for a new SMSF are as follows:

• $1495 with a company trustee;
• $880 with individual trustees;

Grow SMSF intentionally DOES NOT offer ‘FREE’ SMSF establishment to ensure we provide you with the best possible upfront support and service you deserve. You can set up a new SMSF with Grow here: Set up an SMSF

Once your new SMSF is open, the setup fees can be repaid out of your SMSF back to you personally. On average it takes 2-3 weeks to have your new SMSF up and running. 

There is no need to use any 3rd-party tools to separately track your SMSF portfolio.

Incorporated into our solution is detailed investment and capital gains tax (CGT) reporting. When you trade on Interactive Brokers we receive a daily feed of  all trades into our specialists SMSF accounting platform.

We track all holdings in your SMSF portfolio and when you sell the system will automatically minimise the capital gains on the sale.

Our system also picks up and realised FX gains and losses as you trade across multiple currencies. 

If you want to use a 3rd party tool like Sharesight, that is your choice, but it is not necessary with Grow.

Yes.

If using one of our preferred crypto exchanges.

There is an additional fee of $385 per annum to add a cryptocurrency to any Grow fee package.

You also have the option of purchasing crypto-backed ETFs via IBKR which will not increase your fees.

Yes, this is possible and usually a very straight forward process with Interactive Brokers.

The key requirement is that both the source account (e.g. Individual) and destination account (e.g. SMSF) must both be held with Interactive Brokers.

The process of transferring existing stocks with another US broker to IBKR is as follows:

• Login to your SMSF IBKR account and navigate to Transfer & Pay > Transfer Positions
• Select Internal to transfer between your IBKR accounts 
• Select either Position Transfer, Cash Transfer or Full Account Transfer depending on what you are transferring
• Choose the correct Source Account and Destination Account

Detailed instructions can be found here: Interactive Brokers – Internal Transfers

Some important notes:

• An in-specie transfer of listed securities from a personal account to an SMSF will trigger capital gains tax as it is deemed a sale by the individual and purchase by the SMSF – there is a change in beneficial ownership;
• The market value of the transfer (if no cash is paid by the SMSF) is considered a contribution at the time the transfer is processed by IBKR, not when initiated by you as the user (which is different to off-market transfers of ASX shares);

Please obtain appropriate tax and financial advice before completing an in-specie transfer with Interactive Brokers. 

No. Grow SMSF does not hold an Australian Financial Services Licence (AFSL) or is not an authorised representative of an AFSL holder. The advice and support we provide to our clients is limited to either taxation or the compliance of your self-managed super fund under the relevant laws and regulations.

Grow SMSF is not a financial adviser. We do not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of investments or superannuation interests.

Any information contained within this website is provided as an information service only and, therefore, does not constitute, and should not be relied upon as, financial product advice. None of the information provided takes into account your personal objectives, financial situation or needs, and you will need to make your own decision about how to proceed.

Alternatively, for financial product advice that takes account of your particular objectives, financial situation or needs, you should consider seeking financial advice from an Australian Financial Services licensee before making a financial decision.