One of the unique aspects of Nucleus Wealth is that you can access the same core portfolios—whether you invest through a self-managed super fund (SMSF) or a personal super fund.

The underlying investment philosophy, portfolio construction and ongoing management remain consistent.

But the two structures come with different rules, tax treatments and flexibility.

Here’s a clear breakdown of how SMSFs and personal super differ in practice when you invest through Nucleus Wealth.

The Big Picture

No matter which structure you choose:

• Your underlying Nucleus portfolios are very similar
• Pretax, pre-fee investment returns are very similar
• We manage the portfolio to the same high standard in both structures

Where the differences emerge is in flexibility, tax control, trading costs, and how easy it is to move investments in or out.

Key Differences When Investing via an SMSF

1. Fewer Restrictions & More Control

Personal super funds are bound by trustee-level rules that limit:

• Sector concentrations
• Certain thematic tilts
• Use of individual stocks vs ETFs
• Exposure caps to particular markets

With an SMSF, you set your own trust deed and investment strategy, so there is much greater freedom over how your portfolio is constructed.

For Nucleus clients, this means:

• Broader access to direct shares
• Fewer restrictions on tilts
• Ability to customise around specific ethical or personal preferences

2. Two-Account Structure: Managed + Your Own Trading Account

In an SMSF, Nucleus can establish:

• A fully-managed Nucleus account (the same portfolios we run in personal super); and
• A separate “DIY” account where you can buy and sell your own investments.

This is ideal for:

• Clients wanting a core–satellite approach
• People who want to hold legacy positions
• Investors with specific stock ideas (e.g., small caps, private placements, speculative holdings)
• Clients transitioning from broker portfolios but not ready to sell everything

Personal super cannot offer this level of customisation.

3. Easier to Leave Without Triggering Capital Gains

We hope you stick with us for the long term. If you do, when you reach pension phase you can start selling stocks without paying capital gains. But, if you decide to leave earlier:

• You can simply remove Nucleus as the manager of your account, leaving you with shares in a brokerage account you can manage yourself or transfer elsewhere.
• Meaning no need to sell, no realised capital gains, and no tax event triggered.

In a personal super fund:

• You can transfer to a new manager on the same platform without capital gains.
• Otherwise the platform typically requires selling down into cash
• That sale may crystallise capital gains
• Gains are taxed within the fund at superannuation rates

4. Better Tax Flexibility

The SMSF structure offers superior tax planning capabilities. While our Personal Super accounts are significantly better than a typical pooled investment fund, our SMSF accounts give even more control and flexibility over tax outcomes.

This can be valuable when transitioning to retirement or managing estate planning, allowing for strategies that are difficult to replicate in a personal super environment.

5. Lower Trading Costs

Trading fees are usually a little lower through an SMSF than through a personal super platform.

6. Fractional Shares Improve Diversification & Reduce Cash Drag

SMSFs have access to fractional share capabilities across many markets.

This means:

• Higher diversification
• Less idle cash
• More precise portfolio implementation
• Smoother rebalancing

What Does It Cost?

Accountant/admin pricing varies significantly, but using the lower-cost end of the market as a benchmark:

Balances above $500k

• Usually save a few hundred dollars per year compared to a personal super platform
• SMSF becomes cost-effective and more flexible

Balances between $300k–$500k

• Costs are typically $0–$200 difference either way
• Depends on platform choice, portfolio choices, and whether you have non-super money with Nucleus (which can lower platform fees)

Around $200k

• An SMSF may cost ~$700 extra per year
• Still may be worthwhile for clients who value control, tax flexibility or special investment strategies

Investment Performance: Essentially the Same

The long-term returns you get with Nucleus Wealth are:

• Built on the same models
• Invested using the same universe
• Rebalanced using the same process
• Monitored using the same risk and quality signals

In other words, SMSF vs personal super has little impact on headline performance.

The structural differences are about:

• control
• fees
• flexibility
• tax
• administration

—not the underlying investment strategy.

So Which Option Is Right for You?

Choose Nucleus Personal Super if:

• Your combined balance is under $250k.
• You want a simplified experience with strict guardrails.
• You have no interest in trading individual stocks yourself.
• You don't want the additional work, set-up cost and obligations of running an SMSF

Choose a Nucleus SMSF if:

• Your balance is approaching or exceeding $300k.
• You want the Hybrid option: Professional management for your core wealth, with a side account for your own trading.
• You want to minimise "cash drag" via fractional shares and avoid the extra ETF fees on portfolio tilts.
• You want the security of knowing you can move your assets in the future without triggering a tax bill.
• You are comfortable with the additional legal responsibilities of running an SMSF.

If you're looking to weigh your options through a hands-on demo of our highly customizable platform, visit our portal to open a risk-free account in less than 10 minutes.

Alternatively, if you want to consult with our investment team, book a call now.