The Concept Super System

Concept Financial Group is a medium sized Financial Planning practice with a combined experience of over 75 years in providing Investment, Insurance, Superannuation and Self Managed Superannuation advice.

Over the years we have noticed many people feel 'cut-off' or alienated from their Superannuation; often people feel their effort to build a sufficient retirement savings base is hopeless.

This feeling of negativity surrounding Superannuation only became worse after the GFC when many sought to counter poor retums by taking control of their Superannuation via a DIY or Self -Managed Superannuation fund.

In working with many SMSF trustees. we have found them to be busy people who often do not have the time needed to manage their SMSF properly; frequently leaving the entirety of their superannuation invested in a bank account only worsening what they initially sought to correct. Performance.

In some cases a lack of administrative and advice systems, plus poor record keeping have led to considerable cost in remediating the fund.

It made sense for Concept to broaden our service offering to include administrative services to Trustees, we already know everything about the Fund and we have the appropriate software, knowledge and systems to manage and control the paper flow and stringent compliance obligabons.

By following the five simple steps. we can provide you with the right tools and advice to mine the Super Goldmine.


SMSF Advice

Concept provides Trustees with access to Senior Advisers (SPAA accredited SMSF Specialists) to help them work through the five steps to super gold.

After an initial strategy has been developed and an SMSF established, Concept provides a formal evaluation and review process where we meet with SMSF Trustees twice a year to look at their SMSF in detail' We also provide direct telephone and email access to your adviser so there is no need to be on your own.

SMSF Administration

The Concept Super System relieves Trustees of the mundane duties they would otherwise be responsible for by completing the day to day administration of an SMSF. We do so by; receiving all correspondence relating to the superannuation fund, completing the associated accounting transactions, maintaining accurate records and ensuring your superannuation fund complies with the applicable legislation.

Five Simple Steps



How much should I be contributing to Super? How should I structure my Superannuation? Where should I invest it? I'm self-employed, how do I save for retirement?

Developing an effective strategy addresses all of these questions and more. Sitting down with a Concept Adviser gives you the opportunity to express where you are financially and more importantly, where you want to be. We help you get there.


What are my duties and responsibilities as a Trustee? Do I need to hold any qualifications? How are SMSF regulated? Can a SMSF have 1 member? What problems can arise if I don't correctly administer my SMSF?

Self Managed Superannuation funds are a complex area with technical intricacies, administrative and financial reporting requirements and harsh penalties should these not be met.

Concept helps clients to understand how Self Managed Superannuation funds work - the rules you must follow and how. We impart our knowledge to help you understand your superannuation and make it work for you


Concept works with SMSF Trustees and Members in developing an lnvestment Strategy designed to meet the Fund's objectives. We then seek out appropriate investments that fit with these stated objectives. Concept's advisers can sit down with you, to make sure that the investments you are considering meet the requirements of the SIS Act, the SMSF trust deed and fit with your investment strategy. That's something that can be quite difficult for some Trustees, especially when they may have little or no investment experience.

Estate Planning

Superannuation cannot be dealt with under the terms of your will, that is why it is important to consider your Estate Planning requirements when establishing your SMSF and updating your requirements on a regular basis. An Estate Plan that includes a carefully thought out program of insurances, current Will and instructions for your SMSF:

Ensures you have sufficient insurance cover in place to provide for your family

Provides certainty for your Legal Personal Representative

Makes sure your wishes are carried out in the manner you intended.


How much do I need to save in my SMSF before I can afford to retire?

'afford' is a relative term, the answer is as much as you can. The greater your desired level of retirement income, the more capital you will need to produce that income in retirement. A Concept Adviser can work with each member of the fund to find out what level of retirement income they will need, and then create a contribution and investment strategy to ensure the member achieves their capital and income objective.

Once you have followed the five simple steps to a super gold mine and are ready to retire, you will need to create a retirement income. Creating a retirement income via your Self Managed Superannuation is easy. You simply move from accumulation to an Account Based Pension (ABP). An ABP is created within your SMSF, making regular payments to your nominated bank account so you are able to fund your retirement lifestyle.


Beyond Retirement

Helping you plan for your future care needs

Most people want to stay living in their own home for as long as possible. However, as you get older your care needs are likely to increase. The best way to ensure that you receive the care you want and need is to start planning early

There are a number of care options available ranging from home care services to residential aged care facilities such as hostels and nursing homes.

The care options differ widely in the level of care provided, the standard of accommodation and the fees and charges payable. Getting the right advice is very important as there are a number of decisions that need to be made such as whether to keep or sell the family home and how to structure your funds to ensure you have a regular cash flow to meet expenses.

Concept can assist by explaining the various aged care options and provide advice on a range of areas including:

  • accommodation bonds
  • minimising fees and charges
  • maintaining the Age Pension and other social security entitlements
  • implications of keeping or selling the family home
  • structuring income and assets to meet the ongoing costs of aged care
  • the potential taxation implications of different aged care options and decisions
  • estate planning needs such as Wills and Powers of Attorney.

It's important to consider your options and commence the planning process early so that decisions do not need to be made under stressful conditions.