SMSFs leaving financial advisers in the cold
The number of self-managed superannuation funds (SMSFs) using a RG146-compliant financial adviser has continued to decline, sitting at 52 per cent, according to Investment Trends.
Investment Trends has conducted its SMSF Report for eight consecutive years, with the number of SMSF trustees using a RG146-compliant adviser falling from a peak of 71 per cent in May 2007.
The report is based on an online survey of 2,132 SMSF investors between March and April this year.
Investment Trends chief executive Eric Blewitt said while trustees are focusing on cost, they do have unmet advice needs - "but they really want to see value for it".
Of the trustees who currently use a RG146-compliant adviser, almost 40 per cent say 'I make all the decisions', according to the report.
The report also saw the amount invested in managed funds within SMSFs continue its decline, falling from 9 per cent last year to 6 per cent.
The amount of SMSF funds invested in direct shares rose slightly from 2011 to 41 per cent, and the amount in cash and cash products edged up to 28 per cent.
Thirty-eight per cent of the SMSF cash balance - $50 billion - is in excess cash, according to the report.
Recommended for you
The number of active advisers on the HUB24 platform has risen to more than 5,200, helping it see quarterly inflows of $5.2 billion.
ASIC has banned a Melbourne-based financial adviser for eight years over false and misleading statements regarding clients’ superannuation investments.
CFS has formed a strategic partnership with the University of Sydney to support the responsible development of AI solutions in the wealth management sector.
Increasing traction among high-net-worth advisers and a stabilisation in adviser exits have helped Praemium report quarterly net inflows of $667 million in the third quarter of 2025.
