Business News

Firm looks to assist conservative SMSFs

Independent SMSF administration and advisory firm is aiming to put greater emphasis on its conservative clients’ investment needs this year and to address their requirement for a more targeted portfolio.

“We’re really trying to help the conservative investors at the moment because we feel there are a lot of people out there sitting in cash who are getting hurt by the falling term deposit and cash rates in Australia,” national manager Paul Oliver told selfmanagedsuper.

“We’re trying to come up with portfolios particularly targeted at those types of investors that will allow us to preserve their capital, but get them a rate of the return that’s higher than what they’re receiving on term deposits and other cash instruments at the moment.

“We’ve found that to be the largest part of the market that needs help – particularly retirees who have been in cash for some time and have been struggling to deal with the rates.”

Oliver said most of the firm’s clients were over the age of 60 and while many still worked, they were close to retirement.

“We look after not only the investment management side for SMSF trustees, but we also do the compliance and administration work for them as well, so we offer a holistic service,” he said.

“But interestingly, it used to be 50:50 [advice v non-advice], but we’re finding more and more clients are coming on [board] in terms of advice, so it’s now getting closer to 70 per cent advice and 30 per cent non-advice.

“In the last couple of years, that’s been a big trend – we’ve seen a lot of trustees saying that they need a bit more help with managing their money.”

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