What do you think of the new fee disclosure rules in AISC’s new regulation Guide 97 (RG97)? Well Matt Linden from ISA feels these new fee disclosure rules will “negatively impact both, member returns and the capacity of Australian super funds to invest in long-term, nation-building infrastructure projects”. What are the new rules and why do they pose a threat? At Velan Super, we provide SMSF accounting services for Chartered Accountants, and we’re about to dissect the new fee disclosure rules (with inputs from our clients) to help deepen your understanding and the impacts of the new rules.

As a trusted outsourcing provider, Velan Super has been delivering outsourced SMSF accounting services for CAs across Australia, and that demands that we stay updated with the current trends & updates to the AISC Regulation Guide. We’ve come across the new fee disclosure regulations that are promising transparency but actually do not deliver on their promise.

A survey conducted on 1000 Australians (aged 18 and above), reveals some great insights into how people select super funds. When questioned on what mattered to them when selecting a super fund, 74% rated “fees” as either most important or very important. A quick pause to contemplate RG97 – if fee disclosure is made opaque, the investing strategies are set to change!

Who we are

At Velan Super, we offer outsourced SMSF accounting services for CAs and we’ve been repeatedly applauded by our clients for quick TATs and error-free quality that guarantees negligible review times for them! Our specialized SMSF accounting services for Chartered Accountants, focus on the fact that time is invaluable for individual CAs. By outsourcing to us, they achieve reliable & outstanding quality – on time, every time! This helps them focus on growing their clientele. PS: Click here if you are looking for SMSF accounting services for CAs.

New Fee Disclosure rules

Since we offer SMSF accounting services for chartered accountants all over Australia, we took the liberty of questioning a few of our clients. Here are three major highlights:

• Asked about the survey results, most of them were confident that it is downright valid that investors are looking to understand what they are being charged and what their superannuation is earning.
• Transparent fees provide customers with confidence. When they see differences in net returns, they understand that the investment strategies are reliable.
• The new fee disclosure rules have certain anomalies that need to be addresses=d before being released

What do you think of these new rules? Let us know in the comments! Alternatively, if you’re looking for SMSF accounting services for Chartered Accountants, hit us up for a free consultation!