Australia has one of the highest levels of smartphone penetration in the world and there is an increasing array of very useful tools and apps freely available to help us manage all aspects of our financial lives.
In this article, I’m going to share the top 5 apps that can make managing your SMSF a breeze.
Macquarie Mobile Banking
A great bank account is central to every SMSF and all banks have their own dedicated smartphone apps. I am going to use the Macquarie Mobile Banking App as an example as the Macquarie’s award winning Cash Management Account (CMA) is the most popular for SMSFs.
Their app allows you to easily manage your Macquarie CMA and view your term deposits from the palm of your hand. It gives you a live feed on your cash balance and interest income and allows you to make immediate payments via BPAY or EFT.
If you are worried about how secure the app is, the app has 3 options for its security. Firstly, your Macquarie client number and password, secondly 4-digit PIN code which you can set and change at any time and thirdly the Macquarie app also has TouchID which engages your phone’s fingerprint scanner so only you can access it.
Many in the Superfund Partners team use this app personally so we can guarantee it will make managing your SMSF easier.
The ASX App
If you like stay up to date with the Australian Stock Exchange, then the ASX App will allow you to do that and more! This app allows you to monitor the performance of S&P/ASX 200 stocks in real time as well as the top gains and losses of the day. There is a 20-minute delay on stocks outside of the top 200.
The ASX app also allows you to see company announcements as well as indices and delayed equity share prices. You can save your top 20 stocks that you wish to monitor and it will notify you instantly of any announcements from those companies. A very handy app for traders or just those of us who want to keep an occasional eye on the market.
Simply Wall St
Believe it or not investing and company analysis can look good. Simply Wall St allows you to do away with the mind-numbing spreadsheets to provide the highest quality of data on stocks from various stock exchanges and presents them in an easy to follow infographic.
Simply Wall St uses a unique “snowflake” graphic to show the 5 key areas to researching stocks: value of the investment, the future and history of the investment, the health of the company and the income the investment can provide.
Simply Wall St also provides estimates of the stock’s future to give you an understanding of that company’s potential direction. It starts with a free plan for you to learn how to use the software and there are two more plans which offer you greater functionality and more benefits to your research at affordable prices.
Portfolio analysis and research has never quite been so easy and Simply Wall St will absolutely make you a better investor. In my opinion, Simply Wall St is a must have for any self-direct SMSF trustee.
If you are a Superfund Partners client and would like to see your SMSF portfolio analysed by the Simply Wall St tool, please get in touch with us and we can arrange a free demonstration.
OnMarket IPOs is a free app that provides investors with fast access to initial public offerings (IPOs) and placements. It gives you live notifications on upcoming opportunities to invest in shares and also provides independent research on the companies listed. Since OnMarket launched, the average 12 month return the IPOs available via OnMarket has been a whopping 60.1%. You can see details of the past transactions on the OnMarket website here: Past Transactions.
This app will not connect to your bank account directly. If your bid to invest in an IPO is successful, you will receive a payment advice for you to pay via BPAY or ETF and payments can easily be made via the app from your banking institution (like Macquarie).
OnMarket is very user-friendly and provides you with an overview of the company’s history as well as the details of the IPO and any announcements on the company. You can also share investment opportunities on various social media platforms so your friends join in the opportunity.
Another great aspect of OnMarket is that they are fighting the good fight by trying to prevent retail investors being locked out of the IPO market which is definitely close to the heart of many SMSF trustees.
Managing your SMSF can be taxing (excuse the pun), especially when it comes to putting together a quality and well-diversified portfolio that will outperform the market.
Superstash provides the entire package – seamless SMSF setup and administration combined with professional investment management. Superstash is basically an SMSF with training wheels, perfect for people who want control and transparency but don’t necessarily know what to do when it comes to picking stocks.
You can set up your Superstash SMSF and invest in one of five professionally managed portfolios based on an accurate and personalised robo-advice solution. View your SMSF documents and sign them electronically via DocuSign. You can also request rollovers from retail funds and other SMSFs and organise insurance policies inside your SMSF.
The complete setup, advice and ongoing management all happens via the Superstash app – no need to meet with your accountant, adviser etc.
Superstash is competitively priced at $990 per annum for the SMSF administration and a 0.495% per annum Investment Management Fee. Superstash is a one-of-a-kind piece of technology that brings SMSFs into the future. Superstash is a joint venture between Superfund Partners and investment managers Elston and the minimum combined balance of super monies required is $150,000.
Although most of the SMSF trustees who work with us are happy picking their own investments or already have an adviser, Superstash is a great solution for younger investors looking to take control of their long-term savings.
If you have any other apps you use to help manage your SMSF we would love to hear about them, so please feel free to comment below.