Reply: 3.1.1.1
From: Dale Gatherum-Goss
Hi
Ooooh, you play dirty!
No, we have clients who insist on setting up their own fund with as little as $1,000 in it because they want to take control of their money and because they believe they can do better than the suxperts.
I have heard all sorts of magical numbers used from $5,000 through to $250,000.
You have costs to the Government each year of about $80 to $100 and then accounting costs and the cost of an audit. All up, somewhere between $750 and $1,000 is reasonable.
I have a few clients who transfer funds from their employer once a year and one who does it monthly. A lot will depend upon the fund itself.
Dale