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.
The Financial Services Council says it will strengthen its “advocacy on advice issues” with its expanded membership ...
Starting his own advice business has allowed him flexibility to be a more involved parent, according to a financial ...
The deputy mayor of MidCoast Council wants to put non-regulated “extra service fees” in aged care facilities on the ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin