Where Group director and mortgage broker Todd Hunter told SMSF Adviser that the number of investors buying in SMSFs is definitely increasing.
“SMSF trustees do still see property as a safer investment because it is a tangible asset,” Mr Hunter said.
While Mr Hunter believes that SMSF trustees should seek advice on certain investments, he has seen the “vast majority” of his SMSF clients choosing to invest independently.
“I would say the vast majority of SMSF trustees setting things up have not been using an accountant or financial planner,” he said.
“They are happy to go ahead on their own knowledge and gut feel,” he added.
Speaking generally, Mr Hunter said there was little difference between SMSF investors and “mum and dad” investors when it came to due diligence.
“People who have an SMSF are supposed to be more intelligent because they have more money in their super, and in order to have that you have to be more astute to set up an SMSF,” he said.
“Having said that, we don’t see much difference in the investors who buy in their fund or not in their fund.
“They are still keen and active to get in and buy property. One isn’t doing any more homework than the other.”