Self Managed Super can be a fantastic way to take back more control and have greater flexibility in choosing and managing your own investment strategy. Wealthrite has a particular specialisation with SMSF and in particular using SMSF to invest directly in property.

A Self Managed Super Fund:

• Has less than 5 members.
• Each individual trustee of the fund is a fund member.
• Each member of the fund is a trustee.
• No member of the fund is an employee of another member of the fund, unless those members are related.
• The trustee can be a corporate entity.
• No trustee of the fund receives remuneration for his or her services as a trustee
• A SMSF is registered with, reports to and is regulated by the Australian Taxation Office.

Self managed superannuation funds comprise 20% of the superannuation industry and, at 31 December 2003, had approximately $125 billion in assets under management.

There are around 300,000 self managed super funds, and the number of funds is growing at about 2,500 a month. The average account balance of a self managed super fund is $235,000. As individuals' super assets have grown, many people have sought to gain control over the day-to-day management of their superannuation.

The membership spread among self managed super funds is:

• One member 21%
• Two members 65%
• Three members 7%
• Four members 7%

In order to decide whether a SMSF is the right decision for you contact us to arrange a free initial interview with a WealthRite adviser.