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
- 16 Mar 2018CBA CEO pushed for FOFA extensionBy James Mitchell and Aleks Vickovich
- 16 Mar 2018CPA dealer group clashes with FASEA requirementsBy Katarina Taurian
- 16 Mar 2018NAB launches virtual assistant for superBy Staff Reporter
- 15 Mar 2018IFA-focused platforms open to new strategiesBy Staff Reporter
- 15 Mar 2018Deakin eyes advisers to fill staff demandBy Killian Plastow
- 15 Mar 2018Adviser Innovation Summit 2018 agenda announcedBy Staff Reporter
- view all