NEWS – Are offers for “discounted” SMSF advice a worthy substitute for professional financial and investment advice for SMSF Trustees?

NEWS – Are offers for “discounted” SMSF advice a worthy substitute for professional financial and investment advice for SMSF Trustees?

Are offers for “discounted” SMSF advice a worthy substitute for professional financial and investment advice for SMSF Trustees?

There are a growing number of SMSF ‘discounters’ with advertisements offering cheap over-the-phone, online advice for SMSF members and trustees, but this is no substitute for professional financial advice, an industry consultant believes. Such is the opinion of industry consultant John Wiseman from John Wiseman Consulting, who said the motivation behind this trend was SMSF trustees seeking low fees and charges, but warned that while it may appear to be a cost-effective solution, it came with its own dangers. “I can only see an ocean of trouble for those that have elected the cheap offering over professional qualified advice that is provided by specialist financial planners,” Wiseman said.

“There is absolutely no substitute for quality for anyone acting as the trustee for one of the two largest and most important assets of an individual’s life.”

With SMSFs accounting for nearly 30 per cent of the $2 trillion held in assets in superannuation accounts of around 550,000 as at December 2015 as more trustees desire control of their retirement savings/investments, Wiseman said this sheer size demanded professional financial advice as the era of the amateur do-it-yourself SMSF was almost obsolete. Read More…

Reported by Malavika Santhebennur at Money Management

Got questions? If you want experts who have years of helping others, without the hype – then call for a FREE strategy session today and also get your FREE Expert Guide – Self-Managed Super and Youtop right hand side above.

If you have any questions, why not give us a call – it’s FREE also!

No obligation. 0407 361 596, Paul.

Advertisements

About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit will SET UP your SMSF and provide investment education for a better result. We take care of all your administration, accounting, ATO lodgement and audit of SMSFs, working with you and your advisors. If you want advice we can arrange one of our recommended advisors and accountants to meet with you, as we do not give advice, but take instruction only. Take control of your super, including property shares and other assets. Learn how to be your own advisor - make better decisions - by being mentored and coached to invest your own super wisely and strategically by qualified partners. Book to come to an event to find out more, or - Call us 0407 361 596, no obligation FREE strategy call.
This entry was posted in News & Stats, Retirement Planning, SMSF Info, SMSF Investing, SMSF Property, Superannuation General and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s