The latest Australian Prudential Regulation Authority superannuation statistics indicate strong performance from advisers working with SMSF trustees, according to the SMSF Professionals Association of Australia.
In a statement reflecting on the APRA stats to 31 March, SPAA chief executive Andrea Slattery said the growth of the SMSF sector, and in particular, the 4.7 per cent, $22.3 billion gain in SMSF assets, reflected the quality of advice on offer, flying in the face of some criticisms.
“Despite all the evidence to the contrary, there has been suggestions that SMSF trustees - and their advisors - did not have the investment acumen to handle the market volatility that has been evident for the five years post the Global Financial Crisis,” Slattery said.
“More specifically, that an overweighting in cash deposits would find SMSF funds missing out on any upswing in equity markets.
“On these APRA numbers, this hasn't occurred.”
Slattery said the continued trend towards self-managed superannuation reflects that prospective trustees feel professional advice is available.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Sep 2018Independent advice will prosper but must be paid for: LovedayBy James Mitchell
- 21 Sep 2018Former ASFA policy advisor to boost FPA ranksBy Reporter
- 21 Sep 2018Aligned advisers in search of freedomBy Adrian Flores
- 20 Sep 2018Banned Perth adviser did not engage in dishonest conductBy James Mitchell
- 20 Sep 2018‘No advisers have been mistreated’: DalyBy James Mitchell
- 20 Sep 2018Beacon advisers held ‘ransom’ while IIOF money remains missingBy James Mitchell
- view all