SMSF trustees open to superannuation services

It's one of the most important aspects of a person's wealth, yet superannuation services are often filed in the too hard basket. Whether this is because they're too complicated to manage or the constant discussions around possible tax changes are becoming overwhelming, they still need an attentive eye to get the most out of them. 

Thankfully, it's now the case that self-managed super fund (SMSF) trustees are becoming more open to taking advice from professionals when it comes to managing their funds. 

This was revealed in a survey conducted by nabtrade and the SMSF Association, which found that a lack of knowledge was one of the main reasons for people being hesitant to start an SMSF. According to the research, 38 per cent of respondents cited this as a reason for not attempting to start one of these funds. 

There is hope for these individuals however, as nearly a fifth (18.6 per cent) of people lacking superannuation knowledge would pursue an SMSF if they could secure the services of professionals such as chartered accountants to help them.

Nabtrade General Manager Nathan Walsh said the report provided plenty of evidence suggesting that people are looking to make the right choices when it comes to managing their super funds.

"SMSF trustees continue to look to make smart decisions, they do their research and seek out new opportunities," he explained.  

"Over a third of SMSF trustees are looking to invest in international equities, more than double the number looking offshore in 2012."

This trust in the accounting profession is not just limited to those managing super funds either. An article by Chartered Accountants Australia and New Zealand CEO Lee White said faith in these people is borne from their ability to manage complex compliance procedures that can quickly become confusing.