Hi, Verve has been recently pointed out for having high fees in many reviews of the super industry in Australia. Are you doing any thing about this( ie- lowering fees)to keep your current members or to make verve more attractive to future members?
Hi, I am 72 and have been managing my own SMSF for the last 23 years but am now considering winding up and rolling over into an Industry or Retail Fund to simplify things moving forward. I am no longer working, so there are no longer contributions to the fund, and I only have Australian shares and a couple of ETFs in my Fund. Am I eligible to rollover my SMSF to Verve ?
Hi Mon, Thanks for getting in touch and for your interest in Verve! Whilst we can’t offer advice that takes into account your personal financial objectives and needs, here’s some information about Verve Super that you might like to consider as you make your decision —
* Verve offers a single, Balanced investment option Super is an investment and therefore carries some level of risk. Verve Super offers a balanced investment option, which means our members’ money is invested approximately 67.5% in growth assets and 32.5% in defensive assets. A balanced investment strategy is generally suitable for members comfortable with accepting short term market/performance volatility in order to achieve higher long-term returns. The recommended minimum investment time frame is 4-6 years. When thinking about joining Verve Super, it is important to consider if this investment option is suitable for your investment timeframe, risk tolerance, and where other parts of your wealth are invested. This is particularly important if you’re at or reaching retirement age, as your investment timeframe may be shorter by comparison. * Verve doesn’t offer a pension product Just to let you know, Verve does not currently offer an income stream or pension product. A pension product allows you to specify an amount, and how often you’d like to receive it (i.e. weekly, monthly), that can be released from your super account and paid into your bank account. At this time, we don’t offer that type of product - which may be something to consider, depending on your future retirement plans. * Transferring an SMSF If you decide that you’d like to open a Verve Super account and transfer your balance from an SMSF, you can organise this transfer to your Verve account via SuperStream. This ensures that the transfer is done quickly and in a way that is compliant with current regulations. There is information about transferring your SMSF via SuperStream on the ATO website listed below and the ATO also has a useful checklist for transferring from an SMSF: - external link - external link
* More information I’d suggest taking a look at the information in our Product Disclosure Statement. For more detailed information refer to our Target Market Determination (TMD), Additional Information Booklet and Financial Services Guide. You can find these documents on our website: - external link You may also wish to consider getting financial advice for your personal situation.
If you have any further questions, you can also contact us at hello@vervesuper.com.au Kindly, Alison Team Verve
Please tell me the rates of return for your "balanced super fund" for these periods : 1 year , 5 years and 20 years. Also can you give me your fees and any associated costs with switching from another fund to verve super.
Hi jaybeecee, Thanks for getting in touch and for your interest in Verve! You can find current information about fees and returns here on our website: external link Please also refer to the Product Disclosure Statement (PDS), Target Market Determination (TMD), Additional Information Booklet and related documents, which can be found here on our website: external link For more information, please contact our team directly via email at hello@vervesuper.com.au or by calling 1300 799 482. Kindly, Alison
Thanks for that Alison , I will read the information and the follow up if satisfied with the result. regards John
How do your returns and fees compare with other super funds?
Hi Mero, Thanks for reaching out! Our fee is competitive (or better!) than other ethical super funds with strong screens on their investments who offer a balanced investment option. You can find the most recent information about fees and returns in our Product Disclose Statement (PDS) or here on our website: external link If you have any other questions, we'd love to hear from you! You can contact us at hello@vervesuper.com.au or by calling 1300 799 482. Kindly, Alison
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