Advisers who are not providing SMSF advice are potentially at risk of losing clients, according to AMP’s Peter Burgess.
Speaking at last week’s AFA conference on the Gold Coast, Mr Burgess told delegates practitioners need to identify and understand what phase their clients are in in terms of their SMSF decision making.
“If they’re intending investors, they’re more likely to want information about an SMSF. If they’re recent, they’re more likely to want help in the day-to-day admin. Established investors are more likely to want help with the implementation of their strategy,” he said.
Mr Burgess added practitioners who are not providing SMSF advice to those who are close to retirement or moving in to retirement could potentially lose some of their client base.
“If you’re not talking about SMSFs, someone else is,” Mr Burgess said
“I’m not suggesting pushing all of your clients who are getting close to retirement into SMSFs, but the point is you have to have enough knowledge and information about SMSFs to have an informed discussion with your clients because … they want to have that discussion.
“The conclusions are if you want to attract more clients in SMSFs, if you want to retain more clients in SMSFs, then you need to … take some time to identify what phase of their superannuation they’re in, and then tailor your advice accordingly.”
AMP’s advertising campaign has shown those practitioners considered experts in SMSFs are viewed as experts in all aspects of superannuation, Mr Burgess added.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 29 May 2017Lawyer warns on ‘practical difficulty’ with TRIS commutationsBy Miranda Brownlee
- 29 May 2017Medicare levy rise spurs estate planning considerationsBy Miranda Brownlee
- 29 May 2017CFS highlights flaw in housing super saver schemeBy Miranda Brownlee
- 26 May 2017Merged association poised to shake up member servicesBy Katarina Taurian
- 26 May 2017Positive exclusion as LRBA amendments introduced to ParliamentBy Miranda Brownlee
- 26 May 2017Midwinter releases superannuation calculatorsBy Staff Reporter
- view all
- Lawyer warns on ‘practical difficulty’ with TRIS commutations
Commuting a TRIS on 1 July 2017 instead of 30 June could result in an additional technical issue for SMSF clients, according to an industry ...read more
- Medicare levy rise spurs estate planning considerations
In light of the Medicare increase, SMSF practitioners may want to consider whether clients should direct their superannuation benefits to th...read more
- Merged association poised to shake up member services
Under the united banner of SISFA, two newly merged representative bodies are looking to provide “unique” member benefits, including faci...read more
- view all