BT Investor SuperWrap Help?

Melb69 on 02/08/2019 - 10:18

I have had the BT Investor Wrap for my employer superannuation for ages. I've never been on top of it and now should get my ass into gear. Originally it was recommended by a financial advisor. Maybe more so for their kickbacks. I was ok with it at the time as they did a whole report and for a time were assisting with recommendations on the folios.

Australian shares - 38%
International shares 7%
Cash Holdings 55%

Does anyone know what the best way forward is to get help on my super. If I stay with BT is it a matter of contacting them for help as to where to maximise my super. Or should I go back to my financial advisor.

Also what do OZber's think of the split. I've just turned 50. Please be kind. It's one of the most important things I should have managed, but just never really hand the fortitude to master and get a handle of how to best maximise the growth.

I also feel I should move it all to an industry fund which seem to get more perceived growth compared to other funds. Assume though I would still have the same issue about the split and what funds to split the super into.

Thanking all in advance. Some ones in the finance sector on this would be great.

Financial

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Comments

  • [Deactivated] on 02/08/2019 - 10:48
    +1

    Getting my various supers out of BT and AMP were two of my happiest financial decisions and I wonder why I didn't do it sooner.

    • Melb69 on 02/08/2019 - 11:00

      Where did you end up putting your funds into? Have they performed as you expected?

      • [Deactivated] on 02/08/2019 - 11:03
        +1

        Mine is in Hostplus balanced and I'm very happy.

        • Melb69 on 02/08/2019 - 11:03

          Thanks will look into it.

          • burningrage on 02/08/2019 - 12:11
            +1

            @Melb69: I have to second Frugal Rock. My super never did ok with BT so now I am with HESTA, I am happier.

            • mikedavis67 on 02/08/2019 - 16:31
              +2

              @burningrage: Yes moved form AMP to HostPlus two years ago and my super is finally starting to move up I saw no growth with AMP.

  • tsunamisurfer on 02/08/2019 - 11:00

    The short answer is to seek advice from a financial advisor, they with you will consider :

    • Your life and financial goals.
    • Where you are at now (your financials etc).
    • What your earning capacity is and your risk appetite.

    Please be careful…..some financial advisors charge $2000 for a Statement of Advice.

    • Melb69 on 02/08/2019 - 11:02

      The last one I went to did a full financial strategy report. Did it a long time ago. Is that the same as a statement advice.? What should I expect to pay for an advisor now to go over those q?

    • Some Guy on 03/08/2019 - 02:14

      $2k might be a reasonable fee to pay. Best to ask up front of course.

  • HighAndDry on 02/08/2019 - 11:10

    Yeah, definitely talk to a financial adviser that you're paying for directly.

    But it also depends on how much is in the super, and generally the thinking re super is: high risk high growth when you're young, but low risk low growth as you get older because you're less able to make up for any losses at that point.

  • theHMASfriendship on 02/08/2019 - 12:16
    +1

    Australian Super or Hostplus

  • 87percent on 02/08/2019 - 17:02

    What's wrong with BT? I'm currently with them

    • Melb69 on 02/08/2019 - 21:06

      Are you in the Investor Wrap. What's your folio mix. What funds are you in? I think growth is the issue.

      With mine its probably has too much in the cash section, so growth in that part is poor. It was suggested to me when the market was volatile. Its been like that for awhile and had never changed for me. Just thinking it may be better to move and try some other fund.

    • burningrage on 02/08/2019 - 21:53
      +1

      Much higher fees vs Industry SuperFunds.

      In my experience, fees don't commensurate with performance. When in BT, my returns went negative one year and when positive, no more than 2-3% after fees.

      After moving to HESTA, first year was whooping 9% after fees. Haven't checked this year 2018/19 as yet.

  • mrtin on 09/08/2019 - 00:44

    Bt wrap does not invest your money.
    It is an administrative platform only.
    Your money is invested in the option you or your adviser chose which could be a few out of hundreds of options (some with bt, many with other fund managers)

    It seems you need a review of your investment portfolio.

    If I was you I would also review the version of superwrap you have.

    Burningrage above is making comments which may not be accurate…

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