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.
Law makers need to recognise 'strategic advice' - as distinct from general advice and product advice - an idea the SMSF Association's John Maroney is pitching to government alongside accounting bodies and the FPA.