Stockspot, a wealth management and robo advisory platform, has made a significant move by introducing its ETF-only super fund. This retail superannuation product is positioned as a straightforward, transparent, and low-fee alternative to conventional super funds. The launch of Stockspot Super aims to challenge the existing underperforming and high-fee offerings in the superannuation market.
This ETF-only fund, initially revealed in November, is now available to the public, offering members enhanced visibility and control over their retirement savings. By exclusively investing in ETFs, Stockspot Super aims to provide lower fees and increased transparency compared to traditional super funds that predominantly invest in high-fee, unlisted assets.
Stockspot Super imposes a 0.352% administration fee on the first $500,000, capped at $3,630 per annum for family groups of up to six members. Additional fees include a 0.03% p.a. expense recovery fee, a 0.026% p.a. excess administration expense, and a 1.5% p.a. cash management fee on the fund holder’s cash account balance. Notably, there are no charges for investments, transaction costs, or switching.
According to Stockspot founder Chris Brycki, Australians are currently paying substantial amounts in super fees that could potentially bolster their retirement savings. He emphasizes the importance of investing in transparent, fairly priced, and efficient assets rather than complex structures that benefit fund managers over members.
One distinguishing feature of Stockspot Super is its daily pricing of investments, ensuring equitable entry and exit for all members. By avoiding investments in private assets valued quarterly or annually, the fund aims to eliminate the risk of stale pricing that could disadvantage certain members.
Moreover, Stockspot Super is recognized as Australia’s first super product to include a significant gold allocation, a strategy advocated by Brycki and Stockspot. This allocation provides additional downside risk protection for members. The fund also offers automatic risk adjustments based on a member’s age, facilitating a seamless transition to a more stable portfolio without unnecessary complexity or fees.
Brycki emphasizes the importance of simplicity in superannuation, highlighting the need for cost-effective, diversified assets that prioritize the member’s savings over corporate sponsorships and hidden fees. Stockspot’s ETF-only approach aims to democratize super funds, offering a clear and accessible investment option for Australians seeking greater control and transparency over their retirement savings.
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