Super Wrap with Netwealth

Hi

I am seeking for a review on a product - Wealth Accelerator Plus from Netwealth (part of Citibank, I believe).

I seek to use this for a band aid solution to host shares, not investment.

Has anyone got any experience, direct/indirect, on this product?

Thanks beforehand.

 

Not specific to Netwealth, but a good article when deciding whether to utilise a wrap
Wraps and why advisors love them — Passive Investing Australia

What value are you getting for the fees
$240 fixed plus
0.35% 0 - 250K
0.25% 250K - 500K
0.15% 500K - 1M
0.05% 1M - 2.5M

This is on top of any MER of underlying investments
IDPS Guide (product disclosure document)

 

to shelter shares in individual name,
need to consider fees vs tax

 

Do you mean moving shares from an individual name into super?

Many wraps do support in-specie transfer like this, but will be a capital gains event and subject to non concessional contribution limits (including bring forward arrangements)

Another option would be an SMSF. You would need to weight up the wrap fees vs SMSF costs. For a decent balance, SMSF will likely be lower cost.

 

u know any other one? that accepts in specie transfer in form of lot of shares?
called 20+, big (maq, bt, aussuper) to small. only netwealth accepts lot.

yes aware of cgt.
yes considering smsf too. definitely.

 

I think MLC does
https://www.mlc.com.au/personal/superannuation/contribute/wrap/asset-transfer

that said, I thought Macquarie did as well
https://www.macquarie.com.au/assets/bfs/adviser-tools/wrap/wrap-asset-transfer-guide_v5.pdf

industry funds do not

 

mac requires an advisor, do you have a recommended one?
btw thanks for that.

 

Most wraps do. Wraps and advisors are not really my thing, instead I'm going down the SMSF path.

How liquid are your shareholdings? Are the ASX300/ETF/LIC Would it be possible to just sell and re-buy in an industry fund?

What are you trying to shelter them from that super would provide?