Hub24 Vs other Super

New member, first post ..

Hi
I am currently with AustralianSuper and have been happy with performance of the "balanced"
1y = 20.43%
5y = 10.44%
10y = 9.73%
These % can be improved by changing to: high growth

Our Superannuation Performance | AustralianSuper

I have recently started looking at alternatives and in particular Hub24.

I have limited knowledge of the platform, it was recommended via a financial planner, I have been told the fees on a nominal sum of $260k are $1690.00 which is $250 less than AustralianSuper.

However I have no idea on past performance.

Currently 55years old so 10 or so years to go.

Any feedback would be appreciated.

William.

 

There are lots of lower cost options than wraps or actively managed industry fund offerings for that matter. Hub24 are one of the higher cost wraps as well.
Wraps and why advisors love them — Passive Investing Australia

Low cost indexed options either pooled, direct ETF or SMSF are all good options.

 

I also have AustralianSuper balanced option. I'm nearly at the finish line, so have no plans to change. Happy to stay put.

 

Is that just the HUB24 fees, what about the advisor fees?

I'm in AustralianSuper Balanced as well - can't argue with their results.
Is the advisor saying they can consistently achieve better than AS returns?

 

Thanks for reply
Yes it was via an advisor, which was the main reason for question.
I will research the options you mention.

 

Thanks for reply.
The advisor didn't really elaborate to much on performance. He was more focused on the fees being better.
We did also discuss ongoing advisor fees, which are optional. But with that said I am thinking the main reason for going to the platform was to offer more flexibility and control, which requires knowledge of markets.

For now I am staying with AustralianSuper and may tweak my options.

If you don't mind me asking, what options have you got with AustralianSuper

 

Thanks for reply.
If you don't mind me asking, what options have you got with AustralianSuper

 

I’d be very surprised if HUB24 fees are lower

from the PDS

0.56% First $250,000
0.46% $250,001 – $500,000
0.30% $500,001 – $1,000,000
0.11% More than $1,000,000

plus expense recovery 0.035%

Compared to Australian Super admin $117 plus 0.04%

in both cases investment fees are additional.

Are they including all fees in the comparison including admin, investment and advisor?

 

PLus you can do the direct shares option (some limitations on this)

 

Very simple - all in the premixed balanced option with AustralianSuper.

 

Here is the numbers that the financial advisor gave me.

 

Bit lower than what's in the PDS (for $250K in Choice options)

 

Interesting.
Thanks for the info.
I have learnt two things.
1. I don't think Hub24 is for me.
2. Do your own research and don't take the word of a financial advisor.