The main difference between an SMSF and a fund like GuildSuper is that the members of an SMSF run it themselves, normally as trustees. They have full responsibility for complying with the super and tax laws and paying all the setup and fee costs themselves – which can be expensive! While there is no minimum amount of money required to set up a SMSF, this is why you normally wouldn’t set up a SMSF unless you had quite a large balance.