The number of SMSF trustees that want financial advice is growing according to Investment Trends CEO Michael Blomfield, while the number of trustees using advice is shrinking. The disconnect is "problematic", he says.
With $3 trillion in assets, it’s no wonder accountants are still vying for a slice of the SMSF pie. A weakening client base and awkward regulatory boundaries remain the real challenges, according to data from Investment Trends.
Not all advisers are enamoured with SMSFs as a retirement savings vehicle. One principal likens them to tattoos; popular and exciting at first, but likely to be regretted eventually and painful to get rid of.