Here’s a little bit about Squirrel and why we do, what we do.
Squirrel is a 100% Australian owned fintech, with an innovative SMSF platform that allows clients from every state and territory in Australia to self manage their super funds and take control of their finances. We’re not a bank and we’re not fund managers slicing off a cut from your hard-earned super. We set up this platform because our team knew there was a better way for people to manage their super fund without paying extortionate fees for the privilege.
We are a multi-award winning fin-tech, recognised by the Australian Financial Review’s Fast Starters of 2017 and ranked as the 84th fastest growing tech company in the whole of Asia Pacific by the Deloitte Tech Fast 500.
Back in April 2014, the Grattan Institute ‘Super Sting’ report detailed how Australians were paying eye-watering amounts in fees and expenses for their superannuation totalling $20 billion. Over their lifetime, an average 30 year old will lose more than $250,000, or over a quarter of their total super balance because of these unfair fee structures.
The worst part is, that this money isn’t necessarily down to bad investments, it’s because of the hidden commissions, rebates and kick-backs involved in the fees. Further still, the report highlighted that fund managers who charged the highest fees were delivering the lowest net returns. The whole system desperately needed someone to come and shake the tree and so that’s what we did…
The Grattan Report was just the push our Founder, needed to launch a fairer way for Australians to manage their superfunds and so the Squirrel SMSF platform was born in late 2014.
The Squirrel platform was developed entirely by our Australia-based internal team of software engineers, product and financial education specialists to allow customers to keep track of and access their super and other investments in one place at any time they want.
With the growth of self-managed super funds to over 30% of the total superannuation assets, Squirrel’s SMSF platform continued to grow as one of the leading fintech providers in the country supporting customers across all states and territories in Australia.