Almost double the number of SMSF trustees seek advice compared to non-SMSF investors

SMSF/smsf-trustees/SMSFs/cent/market-volatility/financial-advice/adviser/

7 December 2009
| By By Corrina Jack |
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Almost twice as many self-managed super fund (SMSF) trustees are seeking financial advice compared to non-SMSF investors, according to Celsius Research.

The research showed that 44 per cent of SMSF trustees have consulted an adviser in the past 12 months.

SMSF trustees making changes to their portfolio were more likely to have followed planning advice to seek better returns, while more than half of non-SMSF investors made changes mainly because of market volatility.

The research also showed that cash and shares are still the most favoured among SMSF trustees, while they are less likely to consider investment property.

Raboplus investments manager Tim Hewson said "the research clearly shows that SMSF trustees have increased their allocations over the last year with a significant appetite for growth assets like shares".

According to the survey SMSFs increased their fund contributions over the past year from 52.7 per cent to 54.2 per cent. They expect to reduce their exposure to cash (21.7 per cent to 20.8 per cent), fixed income (7.4 per cent to 4.9 per cent) and managed funds (22.5 per cent to 18.6 per cent).

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