Financial Standard Comments - One-stop admin and investment shops target SMSFs Major players in equities, cash and other debt instruments - notably large fund managers and major banks - are well positioned to aggressively move into the SMSF fund administration space currently dominated by accountants, according to Chris Lumby head of SMSF at BT. https://www.financialstandard.com.au/feed/latest?story=24470841 Tue, 11 Dec 2012 15:50:01 +1100 Tue, 11 Dec 2012 15:50:01 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by Chris Duncan (Bewildered Industry Observer) We have heard this all before - financial service firms are about funds under management. They do not understand the needs of the SMSF Trustee. Trustees desire control, value for money quality service and return on investment.

Institutions are all about self profit, remunerating the advisers, platform providers and fund managers. By the the time the various layers of fees have been charged (fund manager fees, platform fees, administration fees & adviser service fees) there is not much of a return left for the poor trustees.

Past forays into this field have proven disastrous for the institutions.

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]]> Chris Duncan (Bewildered Industry Observer) Tue, 11 Dec 2012 15:50:01 +1100 Comment by Hein Preller (Superannuation Warehouse) Agreed with Chris on his comment. The reason Trustees set up a SMSF is because they want to SELF manage. Most Trustees feel ripped off by the big financial institutions.

I guess they have to do a bit more homework.

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]]> Hein Preller (Superannuation Warehouse) Tue, 11 Dec 2012 21:00:58 +1100