The BT Financial Group have released a new Superannuation product for Westpac customers (to be available later for everyone else) today. BT Super Invest is aimed at people that want more control of their superannuation, but don’t want to deal with the hassle of the compliance and administration work that comes along with operating an SMSF account.
I have already created my account and have been playing around with both the BT android mobile app and the desktop website. The interface is very modern and clean compared to other offerings available and incredibly simple to navigate and use.
Signing up for a BT Super Invest account only takes a few minutes and rolling your super funds over from other funds only requires a couple of clicks. It locates your other superannuation funds the same way the tool works on the MyGov website by using your tax file number.
At the time of release, there is a huge range of investment options available on the BT Super Invest platform.
- 483 Shares and ETFs
- 62 Managed Funds
- 25 Managed Portfolios
- 24 Term Deposits
There is also a range of insurance offerings available on the BT Super Invest platform such as Total & Permanent Disablement, Death cover, Trauma cover and Income Protection. Keep in mind that these insurance policies aren’t activated on the account by default, you have to apply for them and it’s strongly recommended that you hold some type of insurance. You don’t want to put yourself or your family in a very hard situation if something unfortunate occurs.
The BT Super Invest account is self-managed, meaning you don’t need a financial adviser to set this account up and start trading. It’s aimed towards the savvy investor who likes doing their own research and investment decisions.