Finance News

One million ‘selfies’… and counting

  The growth of self-managed super funds over the last decade has been incredible with the number of members in SMSFs surpassing one million for the first time. There are many reasons why Australians are establishing SMSFs, including desiring control over their financial future and greater flexibility in their investment portfolios. Here are 3 reasons why the growth in SMSFs looks set to continue: 1. Technology is key: Mobile devices that provide access to real time information and on-line trading platforms are making it easier for investors to be become self-directed and to make their own investment decisions.  The rise of the self-directed investor is a global phenomenon and is expected to continue to gain in momentum over the next decade. It is also one of the key reasons why in Australian we are seeing a surge in the number of younger investors establishing SMSFs.  2. Superstream – The pending inclusion of SMSFs into the ATO’s new Superstream rollover system will drastically reduce the time and effort required to rollover funds to an SMSF. Removing obstacles and making it easier for investors to transfer funds within the superannuation system is sure to be a growth enabler for the SMSF sector over the next decade.  3. Service providers – With many financial institutions now offering a range of SMSF administration and support services, it is easier for investors to establish and run their own SMSF. As the sector continues to grow, competition between service providers is sure deliver greater levels of data and product integration, as well as a more streamlined service.   If you’re interested contact AMEGA and speak to our SMSF specialists.   Source: AMP Australia  

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