A new report has reaffirmed the strong growth of the SMSF sector noting online research has eclipsed professional advice as the main source of information for new fund establishments.
The Vanguard Investment Trends 2026 SMSF Investor Report stated 48,500 new SMSFs were established in the 12 months to December 2025, which is the highest level of new funds established in a single year, for a total SMSF population of 664,000 funds.
The report, which is based on research with more than 3000 SMSF trustees, found close to 75 per cent of newly established funds were set-up by trustees using online research to determine whether a fund of this type was suitable for them and nearly 40 per cent used artificial intelligence (AI) powered tools in their decision making process.
Vanguard Australia head of financial adviser services Rachel White said: “Trustees are coming into SMSFs more informed, often after extensive self‑education. That makes the quality of information and education available at the start of the journey more important than ever.”
“AI tools can be a helpful starting point for investors, but unlike professional advisers, they aren’t required to act in best interests or disclose conflicts, so people should treat their guidance with care.”
The report noted while SMSF professionals such as accountants and advisers were still considered important they were no longer the sole source of influence behind a new fund’s establishment with around 30 per cent set up via an online broker or online investment platform.
There was also a drop in the proportion of funds using financial advisers from 24 to 21 per cent over the past year reflecting the shift to online and digital driven services.
However the research acknowledged there was not a reduced need for advice.
“The role of advice is evolving, not disappearing. Trustees are comfortable managing the basics, but they continue to recognise the value of professional expertise where financial, tax and family outcomes intersect,” White explained, adding that unmet advice needs were most concentrated in tax strategies, retirement planning, estate planning intergenerational wealth transfer.
Additionally, the analysis found around 60 per cent of SMSFs not currently using an adviser were likely to seek professional advice in the future, while around half of newly established funds were using an administration firm.
“Newly established SMSFs are particularly challenged by regulatory complexity. Keeping up with changes to superannuation rules and compliance obligations is identified as the single biggest challenge for this cohort,” White said.
“Digital tools help, but responsibility ultimately still sits with the trustee, and that carries a real compliance burden.”
Jason Spits
SENIOR JOURNALIST
Jason is a senior journalist with Benchmark Media and writes for the selfmanagedsuper website and magazine and smstrusteenews website. He has covered financial services since 1999 and has written about life insurance, superannuation, investment management and financial advice, in both a freelance and in-house capacity, and also did a brief stint as a media manager for an industry association. He has been the editor of trade titles Money Management and Financial Standard, and was most recently senior journalist with life insurance title Riskinfo.
Articles by Jason