Australian Financial Services Licensing (AFSL) Forum

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    Lawrence

    We have several clients with a superfund platform and need to move them to another superfund platform as their current superfund platform is about to move them all to SMERF.

    If we are moving a clients retail super from 1 superfund to another can we use an ROA over an SOA – Normally I would say you would need a new SOA as you are changing products etc. However, a few things to consider –

    The retail superfund platforms use the same trustees, the same backoffice and the same front end. An in specie transfer will mean the client does not have to sell down and buy again so their investments will stay the same. The fees of the new superfund are cheaper their current one. Neither platforms have insurance to consider.

    So same trustee, same backend and front end (software client facing), same investments. Fees change from 57bps to 40bps.

    thoughts?

     

     

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