STEP 4
Super Consolidation
moneyGPS has identified that you can Improve your overall super position by completing a Superannuation Consolidation Journey and receiving a Statement of Advice. The purpose of this advice is to remove potential ‘double-ups’ in fees, ensure you are in the correct investment option and find the fund with the right features for your needs.
Suitable for anyone with multiple superfunds and wants to find out what fund would be best for them.
Why is Super Consolidation Important?
You can improve your end superfund balance and retirement savings by Consolidating your multiple super funds
In the superannuation questions you mentioned that you have more than one fund. This is usually not the most efficient way to structure your accounts as you can be doubling up on things like - fees, and insurance premiums, which can eat away at your retirement savings.
Importantly, the advice will show you which fund is the best fit for you taking into consideration fees, performance, features and insurances.
The benefits of consolidating multiple super funds are that it will make your super – easier to manage because it is all in the one fund and potentially save on investment and insurance fees. This means that you have more money which is invested to help grow your retirement assets in a fund that is best suited for your needs.
While we’re at it we can help make sure you are in the right investment option, which could help you reach your retirement goals quicker!
How You Will Benefit from Expert Advice
at a fraction of the Normal Cost
The moneyGPS Super Consolidation advice plan will help you to improve the position of your super.
moneyGPS has created Australia’s first digital advice tool that will help you determine which of your funds is better for you, and then help consolidate your superannuation accounts into that particular fund - saving you money and unnecessary headaches!
You will receive professional advice for less than $500 compared to paying $’000’s if you went to a traditional financial planner.
The plan provides you with a compliant Statement of Advice (SoA or ‘Money Map’) in relation to moving all of your superannuation funds into the one fund or account.
It will also assist you to ensure that any insurance you hold in any fund is reviewed and maintained at an appropriate level.
The advice will compare fees, performance, features and a range of other important factors. It will then apply this comparative analysis against your personal situation and needs, and make a recommendation as to which fund is best for you.
Case Study
Making a Difference
Let’s look at one example of how this simple but effective strategy can make a difference to your end super balance and help your retirement nest-egg.
Ben has held a number of jobs since he started working part-time as teenager. Today, Ben has four superfunds from a few part-time jobs and his full time employment.
Although his current employer has a very attractive superfund, which he has been using for several years - he still has his 3 old funds and paying - insurance premiums, admin & management fees, and investment fees for 4 super accounts!
Minimise Fees: Having 3 funds Ben doesn’t need, means he is paying for multiple fees and charges – which could potentially reduce if he had a larger balance in one fund that would benefit from reduced fees as balances increase.
Maximise earning potential: In addition, having all his super in the one fund which will maximise his funds earning potential. It also means he uses the power of compounding returns to his advantage. Your super has a greater opportunity to grow if you are paying fewer fees – leaving more money working for you.
Reduce paperwork and admin time: Another advantage of consolidating your funds is having less paperwork which means you have one set of documents to manage which will make it easier to interpret how your fund is performing.
Don’t forget your insurance: before consolidating also check to see whether you lose a valuable insurance.
Example: Whilst Ben selected his current employer fund to consolidate all his super another option is to review the market of superfunds to ensure he has the best fund for his long-term objectives.
Source Money101-MoneyGPS Client Modules
Tough Talk
Time is money! Don’t fall into the trap of leaving your hard-earned super money in multiple funds, with multiples expenses.
The sooner you start making your money grow more efficiently to start with, the sooner you will improve your super balance.
Consolidate your many super funds now and you could benefit from; reduced fees, better performance, features relevant to your position, easier management of your super money and more dollars that are working for you! On top of that, ensure that you are invested in the correct option so that you aren’t taking too much risk or missing out on potential growth.
Accessing financial advice from moneyGPS means clients receive
SIMPLE, CONVENIENT SOLUTIONS AT A LOW COST
So Act Now!
- Cheap – So everyone can afford advice
- Convenient – Accessing and understanding advice in your own time
- Flexible – You can go online and talk to someone
- Targeted – You chose the topics that are important to you
- Safe – Fully compliant providing you with a sense of confidence
Speak to a moneyGPS Coach
once you’ve completed an Advice Plan
Remember … a moneyGPS Coach is ready to assist you via a Zoom meeting by answering any questions you may have, and importantly will help you implement your advice plan.
GET STARTED
SUPER CONSOLIDATION
Finally, you have a solution, a roadmap, to help you achieve your financial dreams.
Its liberating to know you have the resources and assistance to get started on your financial journey.
It helps free your mind to work on your ‘financial to do list’ and keep taking those ‘exciting’ steps.
Importantly moneyGPS will be with you every step of the way.
Start the process now.
It doesn’t take long, and you can tick it off your financial ‘to-do’ list. Then you will be able to stop the “what if’ thinking.
5 Top reasons this will help you on your financial journey!
- Receive expert advice at a fraction of the normal cost
- Grow your super faster
- Reduce your superfund expenses and increase the amount you have to invest
- Find out which fund is best for you
- Be invested according to your risk profile
Start the process now!
Click the START TODAY button and start the advice process. Hit the Advice Button.
Follow these steps to access and use the Super Consolidation
Advice Plan:
1
Click below and
access your eligible
Advice plans
2
Select the
'Advice' Tab
3
Select the
Super Consolidation
Advice Plan
Time to Complete: 5 minutes