Self Managed Superannuation Fund For Your Retirement Advice From Professionals

By Author: Ronald Havens
Total Articles: 9
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When considering setting up a self-managed superannuation fund (SMSF) ensure you use a broad-based professional services firm. A firm such as Leenane Templeton encompasses fully trained professionals (they are Chartered Accountants and Business Advisors as well as superannuation and investment advisors) to ensure you receive the best possible information and advice that is best suited to your needs.

The key test for a professional is to provide impartial and unbiased advice and that is precisely what you receive at Leenane Templeton. Not only have the specialists cleared their various qualification hurdles and ensure ongoing professional development education; they understand that the lifeblood of a professional depends on the intellectual contributions through education, research, good administration and strong ethical standards to ensure the best possible advice for their clients (even if it is advice the clients may not wish to hear).

How & Why Did SMSFs Come About?

The original thinking behind self-managed superannuation funds in the ...
... 1980s with the Occupational Superannuation Standards Act (OSSA) was to allow small businesses and individuals to establish, control and invest their own superannuation funds with a minimum of bureaucracy. The view of government was that, provided membership of SMSFs was restricted to Mum, Dad and the family, the risks of losses and political fallout were minimal.

Recently, there has been criticism of the "lack of regulation for SMSFs" from the Industry Superannuation Funds. One is lead to believe this is partly sour grapes because members are withdrawing substantial amounts of money to establish SMSFs.

From both a political and a regulatory perspective SMSFs are not a high-risk sector of the industry. There are now more than 420,000 funds, mostly controlled by fiercely independent people making their own investment decisions. The risk of failure of a large number of them at the same time is minimal, if not totally non-existent. It is also good to remember that SMSFs are not given government protection via a levy (paid by fund members) as are APRA regulated funds.