Intimate with Self-Managed Superannuation
June 22, 2011The self-managed superannuation fund (SMSFs) sector is the largest and fasting growing sector of the superannuation market.
Given the importance of this sector, the SMSF Professionals’ Association of Australia Limited (SPAA), in conjunction with Russell Investments, engaged CoreData to carry out research among SMSF trustees and advisers.
The focus of the research on which this inaugural annual report is based was to better understand SMSF trustees’ investment knowledge, needs, asset allocation and reliance on professional advice and other information sources.
CoreData also gauged the opinions of advisers and accountants offering SMSF advice and administration services to clients to identify the benefits and challenges in servicing trustees, typical client profiles, profitability of SMSF clients and expected future demand from this sector.
The research revealed a largely healthy and robust sector prepared for future growth as new investors pursue greater flexibility and control in managing their superannuation savings.
‘Coach seekers’ – those individuals who are looking for guidance on their decision making – make up around 30% of the market and present the biggest growth opportunity for SMSFs.
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