How to set up a Self managed super fund

Your first step in setting up a self managed super fund up is to determine what you want to achieve from setting one up. This is crucial but the most overlooked question which often results in additional expenses in restructuring the fund later on.


If you are not sure, make a complimentary appointment with an expert today for a chat about how best to set one up in order to help you achieve your desored goals and objectives.


Once you are clear on why you want one and what you want from it, you must determine who it is you want to be a part of it, who will be the members of the fund. You can have up to 4 members in any one fund and it generally involves your partner or spouse and/or family members.


The next step is to determine who will be your board of directors of your fund, that is, who will advise you in order to keep you within the regulations and legislation. You will need an accountant that deals with self managed super funds a lot, an external auditor (external to the accountant is not mandatory but is industry best practice) and a Financial Adviser that can help you make the most of your retirement monies. Not all funds have a financial adviser attached to them (about 50% do) but the smart investors know that in order to get ahead and maximise their returns, strategies and opportunities, they should engage a trusted adviser who is a specialist in the field.


At Navigate Self managed super funds, the founder of the practice- Peter Alvarez, is a self managed super fund specialist adviser, accredited by SPAA (Self Managed Super fund professionals Association of Australia), the peak certification by the peak industry body representing accountants, auditors and advisers who specialise on advising clients in this niche market.  

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