As existing professionals we don't need to tell you what an incredible opportunity SMSFs represent for your business. Simply looking at three basic numbers; over 496,207 of them already exist, they contain 33% of all superannuation assets and over 3,000 are being set up every month; they represent a compelling opportunity for anyone planning to thrive in the profession.
In addition to the basic numbers, when you add in the rapidly evolving advice industry, the post GFC malaise, and most importantly, the regulatory challenges (FOFA and APES230) to the mix, the potential within the SMSF market becomes even more exciting. Indeed, we believe that any adviser ignoring the sector and its potential effects on their business do so at great risk to their future profitability. This is not to say that this is an area for all advisers and all clients, but any adviser worth his salt will need to examine the possibilities with their clients even if the eventual decision is to choose an alternative strategy.