SMSFs: what’s the big deal? Incoming CEO Peter Burgess joins Owen Rask on The Australian Investors Podcast

Peter Burgess

is the Deputy (and incoming) CEO of the SMSF Association.

In this Australian Investors Podcast episode, Peter walks Owen Rask through recent changes in the landscape of SMSFs, including why young people are turning to SMSFs and more women are choosing to use them as a pathway to retirement.

Peter Burgess talking points

1. What is the size of the SMSF industry today?
2. We’ve seen an interesting growth spurt by millennials and accumulators through online platforms. Why do you think more young people are turning to SMSFs?
3. What are the costs involved in administering SMSFs today and how has that changed over the past 20 years? I remember in the past, it could be quite costly with advice and accounting, has that changed? (See Productivity Commission report).
4. I’m curious about what you see as the common use cases for SMSFs as the demographics change (i.e. what interesting strategies or ideas, changes in investment classes, structure of the advice industry, etc.)?
5. In terms of getting advice on SMSFs — are people taking SMSFs ‘off the shelf’ given they’re being solved by technology? Who do we need to run an SMSF nowadays? Where can people go to get advice on an SMSF and can you give us an idea of costs?
6. Do you see any meaningful tax or regulatory policy changes towards high-balance funds? There has been talk about franking credits, are LRBAs safe?, or transfer cap changes? (limits for assets, franking credits, LRBA, etc.)