SMSFs vs SAFs

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There are many similarities between an SMSF and a SAF but there are also some key differences. So, which one is suitable for you and your clients? Here’s a guide to help you decide.

Features

SMSF

SAF

Fund regulator

ATO

APRA

Title to assets

Held in name of trustee

Held in name of trustee

Maximum number of members

4

4

Identity of trustee

Fund member(s)

Professional licensed trustee

Member protection under 'culpability test'

No

Yes

Investment control

Yes

Yes

Tailored investment strategy

Yes

Yes, however, trustee may impose restrictions

Responsibility for fund compliance

Trustee

Professional licensed trustee

Complaints resolution through Australian Financial Complaints Authority

Yes

Yes

Financial assistance funding scheme

No

Yes

Trustee remuneration

No

Yes

Need to provide standard financial reports

Yes

Yes

Need to provide annual regulatory return

Yes

Yes

Disqualified person as member

No

Yes

For more information on these types of funds, please speak to your financial adviser or call our Client Services Team on 1800 254 180.

From asset administration to a complete end-to-end SMSF solution with the choice of a professional trustee – we have an SMSF solution to suit you.