For a sector so reliant on advice and administration, one of the forgotten segments of the self-managed super fund market are the financial planners and accountants who are themselves SMSF trustees.
But WLM Financial director Matthew Walker believes SMSF trusteeship represents a logical extension of the financial planning profession.
"You’ll find that people who understand and appreciate the complexities of self-managed super funds and are comfortable operating in that space will be drawn towards it," he said. "And it will typically be more of a commercial approach, ie, do the economics make sense and what am I trying to invest into?
"That’s as opposed to the control element or the status symbol of having your own fund; they’re just not going to get caught up in all of that hype."
Walker said the same reasons anyone had for starting up a self-managed super fund applied.
"So cost efficiency and selection of specific investments, particularly around investments that aren’t mainstream, are probably head of the list," he said. "For example, investing in business real property to help support the running of your own business, collectibles, private equity, unlisted investments, that sort of stuff.
"One of the biggest problems with self-managed super funds is the complexity and the compliance," Walker continued. "So if people understand both of those and are very comfortable with it, then that just makes it a day-to-day consideration, and an option that they’re happy to open the door on."
