Satisfaction with SMSF admin providers rising
Fresh data from Investment Trends indicates satisfaction levels with SMSF administration providers have increased in recent years.
According to data from the 2014 SMSF Investor Survey, 86 per cent of trustees rate their SMSF administration provider as either good or very good, Investment Trends analyst King Loong Choi told SMSF Adviser.
This is up from 83 per cent in 2013 and 79 per cent in 2012, he said.
He also noted there are opportunities for SMSF administrators to capitalise on the 193,000 SMSF trustees who are saying they would like additional help with their administration obligations.
This research follows the release of Investment Trends’ 2014 Self-Managed Super Fund Report which showed the proportion of SMSF investors who use an accountant to set up an SMSF has dropped, while the use of administrators has jumped.
According to the report, 31 per cent of investors used an accountant between 2012 and 2014 to set up their SMSF, compared with 53 per cent between 2009 and 2011.
However, the use of administrators to set up an SMSF has increased from 16 per cent between 2009 and 2011 to 24 per cent between 2012 and 2014.