ESUPERFUND Questions & Answers

Hi Maria,

Thank you for your query.

Please visit our website's "Investments Allowed" page (https://www.esuperfund.com.au/investments/allowed) for a comprehensive summary.

Regards, ESUPERFUND

Hi Jeff, Thank you for your query. Please visit our Rollover In page (https://www.esuperfund.com.au/learn/superstream/rollover-in/rollover) for more information regarding transferring your existing super benefits to your new SMSF.

You may also contact us via our Contact Us page (https://www.esuperfund.com.au/why-us/contact-us#contactEsuperfund) and submit a query via the "Contact ESUPERFUND" section.

ESUPERFUND

Hi Marz, Thank you for your query. If you are a client of ESUPERFUND, you may send us a query via the Inbox in your ESUPERFUND Portal (https://clientportal3.esuperfund.com.au/Login?returnUrl=%2fClientInbox%2fIndex). Please also note that ESUPERFUND is a no advice model and does not provide financial, legal or tax advice to clients.

ESUPERFUND

Hi Johncspace,

Thank you for your query.

If you are a client of ESUPERFUND, you may send us a query via the Inbox in your ESUPERFUND Portal (https://clientportal3.esuperfund.com.au/Login?returnUrl=%2fClientInbox%2fIndex).

ESUPERFUND

Hi Dave, Thank you for your query. Please visit our website for more information external link  If you are a prospective client of ESUPERFUND, you may contact us via our Contact Us page (https://www.esuperfund.com.au/why-us/contact-us#contactEsuperfund) and submit a query via the "Contact ESUPERFUND" section.

ESUPERFUND

Hi Mark, Thank you for your query. If you are a client of ESUPERFUND, you may send us a query requesting a callback via the Inbox in your ESUPERFUND Portal (https://clientportal3.esuperfund.com.au/Login?returnUrl=%2fClientInbox%2fIndex).

If you are a prospective client of ESUPERFUND, you may contact us via our Contact Us page (https://www.esuperfund.com.au/why-us/contact-us#contactEsuperfund) and submit a query via the "Contact ESUPERFUND" section.

ESUPERFUND

Hi Tin, Thank you for your query. Please visit our website at external link  for more information. For detailed queries, you may contact us via our Contact Us page at external link  and submit the query via the "Contact ESUPERFUND" section.

ESUPERFUND

They used ANZ years ago. These days they use CMC or Commsec

Hi Peter, Please see our website at external link  and external link  for more information.

Hi guys just wanted to check if we are allowed to do margin trading with SMSF

Hi Asharma, Please see our website at external link  for more information.

Yes. It's a UK company with branches around the world, including Australia.

Australian based cryptocurrency exchanges are supported. You can get much more information on supported investments on their site at: external link 

They don't do anything over the phone any more; all contact is via the secure email on their site. It sounds strange but it works; everything gets answered quickly. Also, each time they answer a question, along with the answer you also get a nudge to the information and/or function on the platform so you'll know how to do it yourself next time. My experience was that after setup and the first tax return there is rarely any reason for contact. But if you're the kind of person who needs regular contact with their accountant for example, then this is probably not the system for you. If it sounds as if I have a connection with them I promise you I don't - I'm just a happy customer - and the kind of person who always prefers the self serve aisle in a supermarket.

I agree with MattPP

problem is I would like to get more of a rundown on the platform itself and the extent of transactional data entry I will be expected to do as trustee versus what integrates from brokers and bank transactions, then secondly does the platform offer full historic views of the SMSF performance and is that as up to date as daily, weekly, monthly , quarterly of just from one EOFY to the current / next one, thirdly - I have used Sharesight in the past integrated from CMC and it keeps a pretty good handle on cumulative profits and tax basis LIFO / FIFO etc etc, is there anything at that level of detail and current ytd performance to aide with decisions as to maybe take a loss and offset to move into something with better prospects for example a bit of a what if tool kind of

If you want proper investment performance tracking then get yourself something like Sharesight (which I use and know) but there are many others. The reports in Esuperfund are designed for statutory purposes.

re: Performance Reporting yeah have used Sharesight before and it is quite good. However need to ensure there's no problems with integrating into Sharesight from the same Broker platform that eSuperfund will have you using. I do not wish to go forward doing mundane data entry, categorising is a different thing

EDIT: I dont think that Sharesight supports or has an arrangement with Commsec and I'd prefer to use them as my eSuperFund broker ? (that would be a major hurdle)

re: a Phone Number though I have unanswered email questions raised over the weekend regarding my application and it is preventing me uploading and moving to the next step. a quick phone call could have resolved the issue in minutes except I've now wasted a whole day

to the credit of eSuperFund I did just receive a phone call back to discuss these quirky questions, so I guess the phone call thing is as and when each scenario absolutely necessitates a call and the info is not otherwise available on line in a FAQ section

Hi just wondering what's been your experience with esuperfund after 3 years?

Hi David, Once your SMSF has been established you will be able to transfer your existing super benefits to your new SMSF. For more information regarding Rollover, please visit our website: external link 

Mark at eSuperfund can answer this question for you via their email portal. Having said this if your ANZ account is your eSuperfund transaction account then yes you can transfer funds from your other superannuation account o your eSuperfund account.

But you will need a Roll Over Benefits statement from the other superannuation account which you will need to lodge with eSuperfund - as this is what is use to determine the concessional and non concessional portions of your other super and also to enable and accurate assessment of your superannuation to ensure you are not going over any limits such as the $1.6M balance cap. You will also need to raise a TBAR in eSuperfund to let the tax department know that you have transferred superannuation funds from one place to an other. If you don't do this the tax office will not know of the transfer and will think you have increased your superannuation balance by double what you have transferred.

I hope this makes sense. I am not a superannuation professional so I would suggest you confirm this with eSuperfund.

I am happy with ESuperfund

I am recommending Regarding to my friends

Excellent Manager and team

Best selfmanaged superfund

Everything will be done online

No need of going to any Auditors

Their brokers are expensive as their FSG says the brokers pay Esuperfund commissions. If you use a cheaper one and have a large portfolio, there's a lot of work required year end.

Don't complicate your life by using different brokers. Esuperfund use either Commsec or CMC (Ebroking)and if you use them everything is automated. Their fees are the same whether you have a personal or SMSF account or whether you use them via Esuperfund or privately. Any rebate Esuperfund gets comes out of the broker's fee. In other words, these brokers are not expensive, they are the 'standard' price for full service brokers.

they're not the cheapest either but I guess the cost of not having an integration and time required to manually enter transactions outweighs the slightly higher transactional brokerage costs

Richard, If you mean can you use Ord Minnett instead of Comsec for share trading. From Esuper site: "Clients of ESUPERFUND are permitted to use any Broker" but I not sure why you would. Getting all your trading data/Dividends to and from Esuper to Ord Minnett, for compliance, would be very time consuming! Esuper/Comsec only charge $30 per trade (ie 0.3% on a $10K trade). Personally I mainly buy LIC's on ASX with low management cost - eg: ASX:AFI, management fees of 0.13% or ASX:DUI (0.15%) which have some international exposure. Do not take this as financial advice as I do not know your position but Esuper is a DIY, no advice model.

Dave. I understand what you are getting at. However, recommendations from the person I have been dealing at Ord Minnett in Sydney have been spot on in the last 12 months during the time I I have been an unofficial client. Ord Minnett also have access to IPOs that ComSec don’t. I am awaiting to see if ESUPERFUND systems automatically populate trades and dividends. My strategy is based on 1.Capital preservation. 2. Income, and 3. modest capital growth. There is a high probability of a world recession with interest rates at an all time low, the USD at an all time high and a rush to Bonds. I realise that Ord Minnett charge higher brokerage than ComSec however 75% of my SMSF assets are in accumulation phase because of the $1.6 million cap so brokerage is partially tax deductible. Thanks for your helpful comments. Richard

Hi Richard. Good to see that your Ords broker is giving you some good recommendations, although your question is from pre-COVID market times, so not sure how this will impact you. If you read the esuperfund reviews, take them with a grain of salt - most of the recent 5 star reviews are from newly created accounts with one or two reviews only - not linked to a real human (Facey or Google profile etc). Hmmmm.

People seem to make a big thing out of trades and dividents automatically feeding to the accounting / admin system with esuperfund. Really? It's 2020, that technology has been around for at least a decade and the software used by my provider has feeds from a few hundred brokers - including Ord Minnett.

It is possible to run an Ords broking account side by side with any other brokerage account you want - for example if the broker looks after part of your porfolio and you trade on another.

Their brokers are expensive as their FSG says the brokers pay Esuperfund commissions. If you use a cheaper one and have a large portfolio, there's a lot of manual work required year end. You'll need to track down each transaction document and match it to each bank transaction - and their website software makes it extra painful and laborious. This presumably discourages people using non-ESuperfund brokers.

Correct. Your criticism is valid. EVERYTHING has to go through their web site which is very good but obviously lacks the human touch. They didn't used to be like that and I got reprimanded for using a direct email contact to my Manager and not using the web portal. Perhaps that is how they help contain costs but that whole attitude really needs a make over. I seriously considered dropping them any moving elsewhere just over their attitude to customer service.

I am a E super member over 10 years there web site is self explanatory of what is required, the fund is basically you do it all of where you wish to invest and at the end of the year that do all the paper work as per ATO requirements and ask a few question before they submit your papers on your behalf, is there something specific you wish to know. Regards Sam

Esuperfund works OK, for some people SOME of the time. SMSFs are personalised vehicles - each person is different. Most people want the ability to speak to a human and get personalised service at some point.

It scares me people who have only known esuperfund and haven't compared it to another provider who will likely cost more, but will provide more, take all the compliance work 'heavy lifting' off you and provide support and advice that can sometimes massively improve your situation.

As they say 'you don't know what you don't know', but with esuperfund it's a case of you 'don't know unless they've put a generic answer on their website'

Best to think of esuperfund as an online accounting solution for SMSFs with a lodgement and audit service attached.

Definitely not a in the same league as a professional SMSF provider, but obviously cheaper than most (they derive revenue is other ways - read their PDS) so it's up for each person or potential customers to be informed and understand the esuperfund value proposition.

The biggest problem I have with them is NO personal contact by phone and if they don't like the question you Email them they simply ignore you. They ask questions with answers you do not have and the system won't allow you to move on. Their system cuts you off in the middle of filing your information and allows very little time to complete the answer to the question. It does not tell you and you think the information has gone through but it hasn't. They are not customer friendly.

wow !!! are you still with them or have you moved to another provider ? what type of 'transactions' are you referring to that time out on you ? as I am considering using it mainly for Shares and ETS investing and have the expectation that all information there will be integrated

you answered my question, sound not good..where are they located, why cant they give you a simple phone number ? Just reading the replies above, lots of unhappy people...

Lol - give them a call if you can find the phone number....