Speaking at the annual SMSF Adviser Strategy Day in Sydney, Investment Trends senior analyst Recep Peker said the “key drivers” encouraging people to set up an SMSF are the media and word of mouth.
“Over 20 years ago or 25 years ago, advisers used to have a huge role in giving people the idea to set up their SMSF,” Mr Peker said.
“[However], now the key drivers of establishment are … giving the idea of setting up an SMSF … the media and word of mouth,” he said.
“[They] are playing a significant role in giving people the idea that they should set up an SMSF and we see this in our accounting research as well,” Mr Peker added.
Mr Peker also pointed out that SMSF trustees are looking to financial planners more than ever since the global financial crisis.
“What you will find is their appetite for financial right now is the highest it has been since the GFC. So that is very significant,” Mr Peker said.
“The number of SMSF trustees out there open to using an adviser’s expertise, especially when it comes to certain investments, is the highest it has been since the global financial crisis,” he said.
[quote name=”Dean”]The less involvement that professional advisers have with SMSFs in the current climate the better. Mums and dads gearing up their modest super balances to buy bubble priced property is a potential disaster in the making. When it turns into the next Storm, the accountants and property driven media can rightfully cop the blame.[/quote]
Nice thought Dean, but since when did the Media take responsibility for their gutter reporting??
The less involvement that professional advisers have with SMSFs in the current climate the better. Mums and dads gearing up their modest super balances to buy bubble priced property is a potential disaster in the making. When it turns into the next Storm, the accountants and property driven media can rightfully cop the blame.