SMSF slowdown due to Government policy
The December quarter saw less new SMSFs established than in any period since mid 2008, which the SMSF Academy said may reflect a lack of direction on behalf of the Government.
This could then be resulting in a loss of consumer confidence in retirement savings policy, said SMSF Academy managing director Aaron Dunn.
However, the recently published Australian Taxation Office figures also showed there were more net and total new SMSFs established in 2011 overall than in any previous year, other than 2007.
The 33,000 establishments represented a 5 per cent increase on 2010, and with only 2,769 funds wound up during 2011, net percentage growth was 67 per cent.
Just over a third of new SMSF members in the December 2011 quarter were under 45, highlighting an opportunity for advisers who are prepared to "deliver education and advice in an engaged way that resonates with this web-savvy group," Dunn said.
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