One-stop admin and investment shops target SMSFsBY MARK STORY | TUESDAY, 11 DEC 2012 10:40AMMajor 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. |
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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.
I guess they have to do a bit more homework.