Four new SMSFs every hourBY ALEX DUNNIN | WEDNESDAY, 6 FEB 2013 12:25PMThe ATO has just released its latest self managed super fund bulletin and it confirms the stellar growth for the sector is continuing unabated. |
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Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
I wonder who's making all the money here. Could it be that accountants are influencing their clients to go into SMSFs because of blah, blah, blah, and then take the fees every year???? Who is regulating these SMSF establishments so that they are appropriate for the client? Accountants don't have to research the super funds that the clients are closing and rolling over from, like financial planners do, therefore it's quite easy to convince these people that a SMSF is a great idea. Am I naive? Or is there a conflict of interest here?
It is possible that people move to control their investments themselves via a SMSF as they are disenchanted with an industry that has become complacent, has under-performed and has over-charged. If it is an ethical issue, I don't think the issue that is driving this is with the ethics of accountants....