How Rivkin Super works

How Rivkin Super works

Rivkin Super is designed to make setting up and running a fund easy. When you are setting up or transferring a fund to our service, we will guide you through the application process and paperwork, endeavouring to make everything clear and transparent.

Once the fund is set up

You as the trustee are free to invest the fund’s assets. We provide a standard investment mandate when the fund is established and trustees are free to adopt this mandate, or more closely define a mandate that meets the requirements of the trustees/members.

Please note that Rivkin Super does not provide advice as to which investments to choose. That is the role and responsibility of the trustee.

Rivkin Local

As part of the service, a membership to Rivkin Local is included. Rivkin Local provides general stock market advice, and you can use this advice as a guide for your own investment selection. The various model portfolios, for example, can help you build a diversified share portfolio. A username and password will be issued to you as part of the account opening process for the fund. Existing clients to Rivkin Local will keep the same username and password.

Macquarie Cash Management Account 

At the centre of your fund is the cash account. We use the Macquarie Cash Management Account (CMA). This account pays a very competitive interest rate, and all transactions move through this account, allowing for ease of administration. Contributions, for example, are paid into the CMA, and from there the trustee is free to invest any surplus cash. All trades through Rivkin are paid directly to and from the Macquarie CMA, making it easy to administer. Trustees/members are issued with a Macquarie CMA username and password, enabling you to access the fund balance 24/7, and transfer money as required.

You have ongoing access to the Rivkin Super team

We are here to help you run your fund. We can provide information on your fund, and also limited advice relating specifically to SMSF. This might be the level of contributions allowed or the minimum draw down in pension mode. We can also provide guidance on whether an investment might be acceptable or unacceptable. If you are in any doubt about aspects of running your fund, we encourage you to contact us immediately.

Quarterly reporting

At the end of every calendar quarter (January to March, April to June, July to September, October to December), we will provide you with a quarterly statement for your fund. This will include a summary of the assets and liabilities and member’s statements. We will complete each set of quarterly reports by the end of the following month. For example, for the January to March quarter, we will complete the statements by the end of April.

You should treat the service as an ongoing partnership with the accounting team. For example, if you are a member of the Premium service and have investments such as direct property and rental statements that are sent directly to you, we ask that you send us documentation in a timely fashion. This allows us to keep on top of the paperwork throughout the year. We require all paperwork and statements to be posted to our office by the 10thcalendar day of the following month at quarter end to allow us time to process the information for the quarterly reports.

Annual reports

At the end of each financial year, we will commence the preparation of annual financial statements, tax return and audit. The time taken to complete this process will vary from fund to fund. Importantly, we ask that you provide all necessary information and paperwork in a timely fashion.

Our ability to complete the annual accounting process will also depend on the types of investments. Managed funds, for example, will issue a tax statement, which will often take a number of months after June 30. We will not be able to complete the end of year process until this is done.  

For the more basic SMSFs in accumulation phase with cash and shares, but no managed funds, we will aim to have these finalised by the end of September following the end of the financial year. This includes the audit, ensuring that you will have your refund as early as possible. For the more complicated funds, or those with expected tax liabilities, we aim to have these complete by the ATO deadline lodgement date, usually around May of the next year. This is based upon the assumption that all required documentation has been sent to us on a timely basis.

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DISCLAIMER: Rivkin aims to provide clear and simple information to those visiting our website. If any part of this disclaimer does not make sense, please phone Rivkin and ask to speak with a member of our Dealing and Relationship Management Team. Rivkin provides general advice, securities and derivatives dealing services and accounting administration services. Rivkin does not provide advice that takes into account your, or anybody else's, investment objectives, financial situation or needs. We strongly suggest that you consult an independent, licenced financial advisor before acting upon any information contained on this website. Investing in and trading securities (such as shares listed on the ASX) and/or derivatives (such as Contracts for Difference or 'CFDs') carry financial risks. CFDs carry with them various additional risks that differ from more simple securities such as fully-paid company shares. Some of these risks include not owning the underlying instrument from which a price is being derived, settling trades 'over the counter' with a financial institution rather than on a stock exchange, and using leverage to gain access to trades that may have a higher face value than your initial deposit. This risk of leverage means that it is possible to lose more than your initial investment. Our aim is to create more life choices for our clients, which means improving the wealth of clients throughout many market cycles by nurturing a relationship spanning many years. If you are not comfortable with your understanding of the risks involved before using a Rivkin product and service, please contact our office to seek further information or a Product Disclosure Statement, or make an appointment to sit with one of our friendly financial experts. It is in our interest for your Rivkin experience to be a rewarding and comfortable one. Rivkin is a trading name of Rivkin Securities ABN 87123290602, which holds Australian Financial Services Licence No. 332 802.