DIY super funds grow in popularity
Australian investors are becoming more aware about the benefits of self-managed super funds (SMSF), an expert has said.
Speaking to the Age, Marc Bineham, NSW state director of the Association of Financial Advisers, claimed that SMSFs should be an option that all investors consider once their super lump sum reaches $200,000.
''People are more aware and more educated and they want more direct control over their investments,'' he said.
''They can put property in [the SMSF], they can buy direct shares, they've got more flexibility and a lot more investment options. The popularity of SMSFs is going to increase.''
Mr Bineham was commenting after figures from the Australian Prudential Regulation Authority showed that SMSFs now account for almost one-third of all super assets.
Investors searching for strong, stable returns could also choose to compare term deposits in search of the best options. The Age noted that while many SMSF investors left retail funds to avoid paying fees, 55 per cent of those same investors have still sought advice about their SMSF from a financial planner in the past year, according to Investment Trends data.
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