Can I buy shares in an unlisted company via an SMSF? Yes – just not from yourself or a related party #SMSF https://t.co/6QaSmczBYD
SelfWealth SMSF
SelfWealth SMSF solution.
We’ve designed a self-managed super fund solution that uses the power of SelfWealth.
Trade shares and ETFs via SelfWealth and we will take care of the rest.
Trade shares and ETFs via SelfWealth and we will take care of the rest.
SelfWealth brokerage
Access SelfWealth for $9.50 trades for shares and ETFs. One of the cheapest in Australia.
Professional support
Access professional support from qualified Chartered Accountants and SMSF Specialists.
Cost effective fees
Competitive annual fees from $95/m puts the control of an SMSF within reach.
Grow your super with our
SelfWealth SMSF solution
New SMSF setup
If you’ve made the decision that an SMSF is right for you, we can help you get set up the right way.
Easy SMSF transfer
We can transfer an existing SMSF from your current accountant or provider to our SelfWealth solution at no cost.
We handle the paperwork
We handle all the SMSF paperwork including tax returns, accounts, audit, trustee minutes and cost-base tracking.
Compare SelfWealth’s brokerages fees
Is SelfWealth the cheapest stockbroker in Australia?
| Trade Size | SelfWealth | CommSec | ANZ Share Inv. | CMC Markets | EBROKING |
|---|---|---|---|---|---|
| $5,001 | $9.50 | $19.95 | $24.95 | $11 | $19.95 |
| $10,001 | $9.50 | $29.95 | $29.95 | $11 | $29.95 |
| $100,000 | $9.50 | $120 | $110 | $100 | $120 |
| $1,000,000 | $9.50 | $1,200 | $1,000 | $1,000 | $1,200 |
Current as at August 2020. Refer to CommSec, ANZ Share Investing, CMC Markets & EBROKING for most up to date brokerage fees
How does SelfWealth work in an SMSF?
Click below for further information on the SMSF SelfWealth Account or Transaction Account
SelfWealth Account
A SelfWealth account is made up to two key parts:
- Cash Account
- Share Trading Account
Cash Account
The SelfWealth cash account is provided by ANZ, however it’s legally held in the name of SelfWealth Limited on your behalf. If you are an ANZ customer you are unable to see this account in your ANZ online banking. The SelfWealth cash account is set aside for share trading only – i.e. the monies held in there can only be used to purchase shares and ETFs via SeflWealth or to receive the proceeds of sales of shareholdings.
You transfer monies between your nominated SMSF transaction account and the SelfWealth cash account. You can use EFT transfers or BPAY to transfers to move money into the SelfWealth cash account and request transfers out of the SelfWealth cash account to your nominated bank account via the SelfWealth platform. Transfers (in either direction) typically take 1-2 business days depending on your bank.
You can learn more about the SelfWealth cash account in their help center: How can I access my SelfWealth cash account?
Share Trading Account
SeflWealth uses OpenMarkets to execute trades on the stock exchange (ASX). All investments are ‘CHESS sponsored’ and legally held in the name of your self-managed super fund.
When your account is opened with SelfWealth you are provided with a HIN (Holder Identification Number) for your shares. To learn more about HINs and CHESS sponsorship, visit the SelfWealth help center: What is CHESS and CHESS Sponsorship?
Most people would not have heard of OpenMarkets, however they are the 2nd largest ASX retail broker by volume, helping power over 100 financial services providers with our white-labelled wholesale trading, clearing and settlement offering. In addition to being the underlying broker for SelfWealth, it also powers fintech companies such as SixPark and Raiz (formerly Acorns Australia).
OpenMarkets is a Market Participant of ASX, Chi-X and NSX and an ASX Clear and Settlement Participant with offices in Melbourne, Brisbane and Sydney.
SMSF Transaction Account
The second key component of the Grow SMSF SelfWealth solution is the Transaction Account.
The transaction account acts as the central HUB for the self-managed super fund receiving all income, paying all expenses and being the source of monies for all investments.
We do not recommend any specific banking product or account type, however to be eligible for certain fixed fee SMSF administration packages (including the SelfWealth Base fee of $95/m or the SelfWealth Flexi fee of $135/m) your SMSF needs to use a bank account that provides a daily data feed into our accounting platform.
For a list of bank accounts that fulfill this criteria, please contact us.
Deposits into your SMSF transaction account
The following are examples of the type of deposits that might be received into an SMSF transaction account:
- Rollovers / transfers from external superannuation funds
- Contributions from members of the SMSF
- Contributions from employers
- Interest income from banks
- Dividends and distributions from investments (including shares and ETFs purchased through SelfWealth)
- Tax refunds
- Transfers of cash from your trading cash account (including the SelfWealth cash account)
Withdrawals from your SMSF transaction account
The following are examples of the type of withdrawals that might be paid from an SMSF transaction account:
- Expense payments (e.g. SMSF administration, financial advice fees, independent audit etc)
- Insurance premium payments (life, disability insurance etc)
- Bank fees
- Tax payments
- Member benefit payments (pensions and lump sums)
- Transfer of cash to your trading cash account (including the SelfWealth cash account)
SelfWealth Reviews
ProductReview.com.au: 4.1/5.0
TrustPilot.com 4.2/5.0
TrustPilot.com 4.2/5.0
100% ok for my SMSF
Have used Sealfwealth for about 10 months to by and sell shares in my self-managed super fund. Everything has worked very smoothly. The cost and simplicity is also attractive. Maybe not suitable for the very advanced investor, but perfectly ok for an investor like me. Cannot comment on customer service, as I never had any issues to be resolved.
Olle
via ProductReview.com.au
Good for SMSF
Easy to use app and platform and cheaper than other brokers. I do like the the look of it and I find it easy enough to look for historical trades. I gave them a 4 because I would really like to see broader access to other company shares ie at least some more popular international shares. They probably could use more functions but I’m pretty happy with it.
Milsonian
via ProductReview.com.au
Cheap trades without a catch
Works well for long term holding. Only thing they should consider is better charting but you can always use another programme and execute trades through Selfwealth. All pretty easy to use and deposit cash into.
Jeremy
via ProductReview.com.au
Love the certainty and savings with flat-fee trading
Wish I’d known of Selfwealth earlier as I was getting totally ripped off and would have saved so much money sooner.
After moving from Westpac I’m now saving at least $20 to $50 per trade. Westpac once hit me with a trading fee of $150 which would have cost just $9.50 at Selfwealth for exactly the same trade. This $140 difference for the same thing is amazing!
Read full review on ProductReview.com.au
After moving from Westpac I’m now saving at least $20 to $50 per trade. Westpac once hit me with a trading fee of $150 which would have cost just $9.50 at Selfwealth for exactly the same trade. This $140 difference for the same thing is amazing!
Read full review on ProductReview.com.au
Steve B
via ProductReview.com.au
SelfWealth SMSF
Fast and easy in getting our Self Managed Super Fund (SMSF) transferred from another brokerage firm. And now its heaps cheaper to get invested in Australian shares.If you currently have a SMSF switch into SelfWealth. Highly recommended.
Nicholas Lourandos
via ProductReview.com.au
Good SMSF trading platform
I have found it easy to use the website and it is cheap way of trading. Plenty of stock market information and performance tools available to make informed decisions. Would recommend this company for investors who like to manage their own portfolio.
Rocky Road
via ProductReview.com.au
Frequently Asked Questions
Does Grow SMSF receive commission from SelfWealth?
No.
Grow SMSF is completely independent of SelfWealth. We do no receive any commissions, referral fees or any other compensation from SelfWealth.
Grow SMSF offers a discounted solution to make a self-managed super fund more accessible for self-directed investors.
How is Grow SMSF different to cheaper online providers like esuperfund?
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:
- 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.
- Transparency: Grow SMSF does not receive any commission or referral fees from any of the solution providers we work with including SelfWealth. Some other SMSF service providers receive commissions 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.
- 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.
I already have a SelfWealth account in my name. Do I need a DIFFERENT SelfWealth account for my SMSF?
Yes.
One of the most fundamental principles of a self-managed super fund is separation of assets. A separate SelfWealth account is needed in the name of the SMSF.
Separation of assets means that assets, accounts and investments of an SMSF must be in the name of the trustee of the fund on behalf of the SMSF and cannot be mixed or intertwined with assets and investments of the members / trustees of the fund. If a trustee fails to keep assets of an SMSF separate the breach of the regulations must be reported to the ATO by the independent auditor of the fund. The trustee(s) could be personally fined or in extreme cases the ATO may deem the fund non-complying.
Is SelfWealth a suitable solution for day trading?
If day trading is a strategy you wish to pursue, we suggest you undertake your own research into suitable providers before opening an SMSF and a SelfWealth account for that purpose.
How much does it cost to set up an SMSF?
The set up fees for a new SMSF are as follows:
- $275 with individual trustees;
- $990 with a company trustee
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: How to set up an SMSF
Does Grow SMSF track transactions for CGT reporting? Or do I need to use something like Sharesight?
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 SelfWealth, any trades will automatically flow through into our SMSF accounting platform (normally next business day). We track all holdings in your SelfWealth portfolio and when you sell the system will automatically minimise the capital gains on the sale.
Your SMSF portfolio holdings and capital gains tax reporting is available online 24/7 enabling you to see the amount of capital gains and losses for the financial year as well as any unrealised gains on your portfolio.
Can my SMSF pay for Premium Membership with SelfWealth?
Yes.
Your membership can be paid from the SMSF SelfWealth Cash Account.
For more information, refer to the SelfWealth help center.
New accounts receive a 90 day Premium Membership at no additional cost.
Does Grow SMSF provide financial advice?
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.
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We’ve received a lot of interest in our Stake SMSF offer. Although this is not the official Super by Stake solutio… https://t.co/RO8HbiJW9r
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Copyright © 2020 by Grow SMSF Pty Ltd. All rights reserved.
General Information Warning & Disclaimer
All information contained on 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.
Grow SMSF does not hold an Australian Financial Services Licence (AFSL) and we are not authorised representatives of a AFSL. We do not provide financial product advice or recommend any financial products either expressly or implied.
From time to time Grow SMSF may produce information or content about specific financial products or services that enable access to specific financial products however we do not recommend, endorse or confirm as suitable any financial product or service featured on the Grow SMSF website or social media assets. This condition specifically applies to any financial product where Grow SMSF provides services at a discounted or preferential fee due to the use of those products, services or accounts. It’s not compulsory to utilise a specific account or service provider to be a client of Grow SMSF however the types of accounts, investments and service providers you use for your SMSF will determine the fees your SMSF is charged.
Where Grow SMSF provides information in relation to a financial product or service supported by or integrated with Grow SMSF the information is factual information only about the operation of the account or service and how data or reporting information is made available to us. Before making a decision on any financial product for your SMSF you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision. As financial product and solution providers are frequently making changes to their products and services Grow SMSF cannot accept any responsibility for any outdated or inaccurate information provided on this website or via social media assets.
Grow SMSF Gold Coast based accountants looking after SMSF trustees from around Australia.
Liability limited by a Scheme approved under Professional Standards Legislation.