New Brighton Capital and Crypto SMSF Investments
Today we meet Michael White, the founder and CEO of New Brighton Capital, who believes cryptocurrencies offer ‘the greatest investment opportunities of our generation’. Supporting crypto SMSF investments, his enterprise helps Australians buy and hold bitcoin and other cryptocurrencies with their superannuation. And it has got a very special offer for Cryptocurrency Australia readers – a free Trezor Hardware Wallet for anyone who chooses to sign up.
New Brighton Capital is best known for setting up crypto-friendly, self-managed super funds (SMSFs). It also looks after all the accounting requirements. The goal is to make crypto SMSF investments fast, easy and affordable. Last month, it announced a partnership with CoinTree, and was featured in Australian FinTech.
Here Michael White talks to Cryptocurrency Australia about crypto SMSF investments and the inspiration behind New Brighton Capital (NBC).
On the current SMSF industry
Michael says NBC was launched off the back of the experience in setting up his own crypto-focused, self-managed super fund (SMSF). Reflecting on his early experience of crypto SMSF investments, he said: “There is a serious lack of professionals who have the skills or confidence to operate in this area, and the ones who do charge an arm and a leg. It can also take weeks for the the financial adviser or accountant to ‘get around to it’.
“I knew there had to be an easier, faster and cheaper way of setting it all up and running so, coming from a financial planning background, I created it myself. After clients fill in a five minute online form, we can have your SMSF established within 24 hours.”
Michael added: “Also, depending on how you set up your fund, we have an option to pay $0 upfront and have the set up costs paid by your fund once your money hits your new SMSF bank account. All our SMSFs are ATO approved and we look after your tax returns, audits and compliance so our clients can concentrate on building their portfolio.”
Financial education and empowerement
So, how will crypto SMSF investments give more people exposure to the cryptocurrency market? Michael admits: “Most people don’t even know what their super is invested in (knowing you are invested in the ‘the high growth fund’ does not count). I think being financially literate and taking responsibility for your financial wellbeing is one of the most important skills to have. Unfortunately in our ‘money isn’t everything’ society it is seen as uncool or materialistic to make it a priority. This has led the fact that under 5% of Australian’s are financially independent by 65.
“This is a disgraceful statistic that negatively affects us all and the situation is not improving. Opening the door to more education regarding SMSFs and crypto is a perfect combination that will lead to a higher proportion of Australians actually being more financially literate. Anyone who studies the history and evolution of crypto or money in general will come the conclusion that it is time well spent.”
Exposure and importance of diversification
We asked Michael if portfolio exposure to crypto helps diversification. He said: “This is a great question and the answer is ‘Yes’. The world’s markets are more financialised than ever before. Because of this, stocks are moving up and down together more than ever before. It is hard to diversify in a market where all sectors are moving in the same direction. Crypto is highly “uncorrelated” with the global stock markets.
“As a fund manager, a small crypto position is an excellent hedge against the market. This is one of the things I am most excited about once the ETF is approved, as it is my view that fund managers around the world will “need” exposure to uncorrelated assets like crypto in order to compete in the market.”
“This is something that retail investors like our clients can implement in their own SMSFs, because even though we focus on serving crypto enthusiasts, you can still also hold shares, property, art, and precious metals like gold in our SMSFs.”
Cryptocurrency SMSF’s looking forward
Where does Michael see crypto SMSF investments going in the future? He thinks crypto investments are going places. He explained: “With the number of SMSFs in Australia growing considerably over the last decade, there is now more money held in SMSFs than all other forms or super combined. In my view this trend will continue because the reasons why people don’t have SMSFs are dissolving.”
The three main reasons why people don’t have SMSFs, Michael points out, are that they:
- Didn’t know they could
- Think its too complicated
- Think its too expensive
He says: “Our mission at NBC is to eliminate each of these false assumptions. More people are realising that an SMSF is an option and we simplify the whole process by making it easy, online and holding our client’s hand every step of the way.
“Most people do not realise that they already pay fees to their existing retail super fund. Also, because we do everything online and do not charge for financial advice, we save on costs and pass the savings onto clients. You can also share the costs with up to four people in the fund.”
And, what about the future of crypto SMSF investments and cryptocurrencies in general? Michael concludes: “As for where crypto is going… Cryptocurrencies continue to represent a quantum leap in political and economic freedom for the world, and by extension, they offer the greatest investment opportunities of our generation.”
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About New Brighton Capital
New Brighton Capital with affiliated partners are crypto fanatics but also experienced and accredited SMSF accountants. So far 100% of our crypto SMSFs have been approved by the ATO and through economies of scale we provide all your SMSF compliance, tax returns and audits for an amazingly low $99 a month. After initial set up, our clients spend under 10 minutes a year dealing with the SMSF requirements. We do it all for you! Our clients have a good idea of what they want to invest in and as New Brighton Capital does not offer financial advice, our clients save $1000’s in SMSF set up and running costs.
|Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Cryptocurrency Australia Media, or the author, may have holdings in the cryptocurrencies discussed. Liability limited by a Scheme Approved Under Professional Standards Legislation. Referrals and affiliate links do earn us commissions but they are products or services we personally use and would not endorse if we did not believe in them.|