Deline Jacovides
speaker
314 appearances
1 recordings
1 series
first heard Aug 2022
last heard Aug 2022
Deline Jacovides’s voice in public audio — every appearance, attributed to the second.
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different fund managers as well.
So if we did have two different super funds, I mean, you don't really get fee savings by being with the same super fund.
There's nothing wrong with being with the same super fund, but I can also understand why some people might want to have different funds in order to diversify their
um against those products with those products as well um because different fund managers um so superannuation is a fund of funds so they invest in other other managed funds and etfs and things like that and so they might all have different um yeah track records different thematics different styles in general so um it
can be a strategy because we're not going to save fees by being with the one super fund.
But sometimes, depending on the strategies you employ, so for example, if we're doing a contribution splitting strategy every year, it might make it easier if we're in the same super fund, but not necessarily.
So there can be reasons why we are with the same fund and reasons why we're not with the same fund.
Everything has a trade-off discussion.
So it's just around working out, well, what, like understanding the risks and
and what's important to you and then working out which one is right.
And I guess the biggest thing before anybody makes any changes to their superannuation, I just want to stress that it is important to consider your insurance, as I've mentioned a few times.
Because I've seen people roll out of super funds into another fund and their insurance they already had in place is cancelled and they might get new insurance in their new super fund, but that might not actually pay out if they've had some other health conditions that have arisen in the last couple of years.
So it is important...
like not to just move your super fund around a lot.
I actually had that question yesterday from a client.
She said, how often do I need to change my super fund?
And my answer was like, hopefully never.
Like once you've got your right, the super structure right, like hopefully you never have to change it.
And I think the recent like myGov changes to the portal where you're allowed to consolidate your funds really easily is
it's been good in some ways but also very dangerous in other ways because people are rolling funds together without considering those insurances and might be cancelling cover that might not be able to get anywhere else in the future so yeah there's kind of like an order when we're looking at a financial plan and um the insurance i would say comes before the super stuff because you need to make sure that's in place first before you start rolling super around or changing that too much
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