|Annual Fee (paid monthly)||0.66%||0.66%||0.528%||0.396%|
|Phone & Email Support|
|Annual Review of your Strategy|
|Investing 101 Email Series|
|Online Access via Dashboard & App|
|Access to Advice & Client Care Team|
|Optional Welcome Call|
|Access to Stockspot Themes|
|Access to Events & Webinars|
|Optional Annual Catch-up Call|
|Dedicated Investment Adviser|
|Review of your Current Portfolio|
|Personal Implementation Plan|
A Stockspot account is made up to two key parts:
The Stockspot cash account is provided by Macquarie in the name of your SMSF. You will be provided with online banking access by Macquarie once the account is set up. You have full legal ownership and control over this account. Stockspot has general withdrawal authority to make investments and deduct fees as per your agreement however they are not the owner or custodian of the account or any investments.
This cash account is set aside for share trading only – i.e. the monies held in there can only be used to purchase the Exchange Traded Funds (ETFs) that make up your selected Stockspot portfolio.
You transfer monies between your SMSF transaction account and the Stockspot cash account. You can use EFT transfers or BPAY to transfers to move money into the Stockspot cash account and request transfers out the same way. Transfers (in either direction) typically take 1 business days depending on your bank however where SMSF transaction account is also with Macquarie the transfer occurs same day.
Stockspot uses a execution and clearing broker to execute trades on the stock exchange (ASX) as part of managing a portfolio on your behalf. All investments are ‘CHESS sponsored’ and legally held in the name of your self-managed super fund.
When your account is opened with Stockspot your SMSF will be provided with a HIN (Holder Identification Number) for the ETFs purchased by Stockspot. If you have an existing SMSF with a stockbroking account your Stockspot HIN will be a new and separate HIN compared to your existing one from another broker.
For more information place refer to the Stockspot MDA Guide.
The second key component of the Grow SMSF Stockspot solution is the Transaction Account.
This bank account acts as the central HUB for your self-managed super fund receiving income, paying expenses and being the source of monies for all investments. To invest via Stockspot money needs to be transferred from this account to the Macquarie account linked to the SMSFs Stockspot portfolio.
For newly established SMSFs Stockspot can set up on your behalf a second Macquarie Cash Management Account (CMA) as the transaction bank account for your SMSF.
If you have an existing SMSF that already has a Macquarie CMA, you can keep this account as your transaction account. You will still be provided an additional Macquarie account as part of your SMSF Stockspot portfolio.
To be eligible for the Stockspot Simple and Flexi fixed fee packages provided by Grow SMSF, you are required to use an SMSF transaction account that provides an automated feed into our SMSF accounting platform. The Macquarie CMA fulfills this criteria.
For a list of all bank accounts that fulfill this criteria, please contact us.
Grow SMSF does not mandate which bank account you use for your SMSF transaction account, however as part of the creation of a new SMSF account, you can request we assist you with a Macquarie CMA for your transaction account. As Macquarie is not as commonly used for personal banking (compared to the Big 4 banks) it’s a great option for an SMSF as it ensures SMSF monies are kept completely separate from your personal monies. Separation of assets is a key compliance requirement for SMSF trustees.
You may be thinking why two bank accounts are needed, or why two Macquarie accounts? The answer is control.
Some of the powerful features of Stockspot include automatic investing and re-investment as well as re-balancing. For these features to work effectively, as the trustee of your SMSF you need to be able to control when money is invested with Stockspot.
For this reason a second bank account is needed to ensure automatic investments are not triggered by mistake. For example if your SMSF receives a deposit (from a contribution or rollover) and you plan to use this money to invest outside of Stockspot or to pay a tax bill or insurance premiums, you wouldn’t want it automatically invested by Stockspot.
The following are examples of the type of deposits that might be received into an SMSF transaction account:
The following are examples of the type of withdrawals that might be paid from an SMSF transaction account:
*Excluding Stockspot management fees which are taken from the other Macquarie CMA linked to your Stockspot portfolio)
Grow SMSF is completely independent of Stockspot. We do no receive any commissions, referral fees or any other compensation from Stockspot.
Grow SMSF offers a discounted solution to make a self-managed super fund more accessible for investors looking to use Stockspot as an investment solution for their superannuation.
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:
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.
One of the most fundamental principles of a self-managed super fund is separation of assets. A separate Stockspot 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.
With Stockspot you get matched to a personalised portfolio based on your investing goals and preferences. There are five primary portfolios as well as sustainable versions of those portfolios.
If you have more than $50,000 invested with Stockspot, you have a the option of using Stockspot ‘Themes’ that enable you to add extra assets, country exposure or market sectors including:
If you want to purchase specific investments with your SMSF there is nothing stopping you. That’s why Grow SMSF offers the Stockspot SMSF Flexi and Bespoke options so you can invest your super with complete freedom.
The most popular Stockspot SMSF option seems to be the Flexi package. SMSF trustees who work with us often use Stockspot as the ‘core’ of their portfolio, then purchase specific investments as part of their strategy (for example direct ASX or international shares).
The set up fees for a new SMSF are as follows:
Grow SMSF intentionally DOES NOT offer ‘FREE’ SMSF establishment to ensure we provide you with the best possible upfront support and service you deserve.
There is no need to use any 3rd-party tools to separately track your SMSF portfolio. Incorporated into both our SMSF solution as well as Stockspot is detailed investment and capital gains tax (CGT) reporting.
When you invest with Stockspot, any ETFs purchase for your portfolio will automatically flow through into our SMSF accounting platform (normally next business day). We track all holdings in your Stockspot 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.
There are zero upfront fees to set up a Stockspot portfolio.
If however you are setting up a new self-managed super fund, you will incur upfront fees. These fees could including seeking independent financial advice on whether an SMSF is suitable for you as well as the cost of setting up the SMSF structure (typically $990 with Grow SMSF where a corporate trustee is used).
Grow SMSF is not licensed to provide you with personal financial advice, including whether an SMSF is suitable for you. We can only set up an SMSF under your instruction where you’ve independently made a decision it’s suitable or have been recommend that is suitable by an appropriately licensed financial adviser.
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.