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The MGS SMSF Portal & Statement of Advice
Background

Accountants and advisors that don't hold a financial services licence or aren't part of a group are finding it hard to establish an SMSF without breaking the law.

Solution

The accountant or advisor sits with the client and completes a fact finder and forwards it to MGS. A Statement of Advice is then sent to the client via the advisor and the advisor helps the client execute the advice.

Common questions
Do I need an AFS licence? No.
Do I need to join a group? No.
Do I need additional training? No.
Will it cost my practice more? No.
Is this allowed by law? Yes.
Can I still set up SMSFs? Yes


 
 
Option 1 Option 2 Option 3
 
Practitioner completes fact find with client online and the client is sent a Statement of Advice that is executed by the Practitioner. Practitioner completes superannuation course and is appointed Authorised Representative in SMSFs. Client either attends or telephones MGS Private and receives advice that is executed by the Practitioner.
 
Available to Accountants, lawyers and financial planners Available to Accountants, lawyers and financial planners Available to Accountants, lawyers, mortgage brokers and financial planners
 
AFSL required? No AFSL required? No AFSL required? No
 
Need to become authorised representative? No Need to become authorised representative? Yes. In SMSF work only. Need to become authorised representative? No
 
Any additional training or licence needed? No Any additional training or licence needed? Yes Accountants, lawyers, mortgage brokers and financial planners No
 
Client attends? Accountants, lawyers or financial planners office Client attends? Accountants, lawyers or financial planners office Client attends? Either practitioners office or MGS Private.
 
Who establishes SMSF? Accountant, lawyer or financial planner based on advice given by MGS. Who establishes SMSF? Accountant, lawyer or financial planner based on advice given by MGS. Who establishes SMSF? MGS Private or practitioner if sufficiently skilled
 
Who is responsible for advice? MGS/MGS Financial Who is responsible for advice? MGS/MGS Financial Who is responsible for advice? MGS/MGS Financial
 
How much is an SMSF Statement of Advice? From $POA How much is an SMSF Statement of Advice? From $POA How much is an SMSF Statement of Advice? From $POA
 
How much does it cost a firm to participate? Nil How much does it cost a firm to participate? From $POA How much does it cost a firm to participate? Nil
 
How long does it take to get started? Immediately How long does it take to get started? Immediately How long does it take to get started? Immediately
 
For more information contact MGS on 02 9231 5111 or email contact@macquariegs.com.au For more information contact MGS on 02 9231 5111 or email contact@macquariegs.com.au For more information contact MGS on 02 9231 5111 or email contact@macquariegs.com.au
 
 
STATEMENT OF ADVICE SERVICE (SOA SERVICE)

Service Delivery Conditions What's provided Provider
 
Standard Online Two member fund with related party members. Rollover from industry/retail fund. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account and rollover. MGS
 
Premium Online Up to four member fund with related party members. Rollover from industry/retail fund. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account and rollover. Insurance and contribution or pension strategies included. MGS
 
Borrowing Online Up to four member fund with related party members. Rollover from industry/retail fund and borrowing to acquire property. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account, rollover of balances, borrowing and acquisition of real property. MGS
 
Premium Borrowing Online Up to four member fund with related party members. Rollover from industry/retail fund and borrowing to acquire property. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account, rollover of balances, borrowing and acquisition of real property. Insurance and contribution or pension strategies included. MGS
 
Standard Meeting Two member fund with related party members. Rollover from industry/retail fund. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account and rollover. MGS Private
 
Premium Meeting Up to four member fund with related party members. Rollover from industry/retail fund. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account and rollover. Insurance and contribution or pension strategies included. MGS Private
 
Borrowing Meeting Up to four member fund with related party members. Rollover from industry/retail fund and borrowing to acquire property. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account, rollover of balances, borrowing and acquisition of real property. MGS Private
 
Premium Borrowing Meeting Up to four member fund with related party members. Rollover from industry/retail fund and borrowing to acquire property. 4 x Statement of Advice covering establishment of an SMSF, establishment of bank account, rollover of balances, borrowing and acquisition of real property. Insurance and contribution or pension strategies included. MGS Private
 
 
 
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