SMSF Reflections

SMSF Reflections

When I received the news that I had been admitted into the newly minted designation of Fellow of the SMSF Association it gave me cause to reflect on the sector – on how much has changed and how much has stayed the same.

In 1994 there were 70k funds holding $12b in assets. The fund managers offering retail super funds said that SMSFs were a blight on the super landscape, a hotbed of grossly irresponsible behaviour and the choice of the intellectually challenged.

In 2003 a group off us formed the SMSF Association which has grown beyond all expectations in membership, relevance and advocacy.

In 2010 the fund managers offering retail super funds said that SMSFs were the best thing since sliced bread and everyone should have at least 3.

In 2019 there are 600k funds holding $750b in assets. The industry super funds are saying that SMSFs are a blight on the super landscape, a hotbed of grossly irresponsible behaviour and the choice of the intellectually challenged.

Plus ça change, plus c’est la même chose!

David Busoli – Principal, SMSF Alliance