The SMSF advice market had been in a “static hiatus period” in the past three to four months due to uncertainties related to the Future of Financial Advice (FOFA) reforms, according to the head of a financial services broking firm.

Accountants looking to build a successful SMSF practice under the new regulatory regime should not make the licensing requirements their main focus, according to an industry consultant.

While the trend of investing in growth assets is expected to continue, investors are also moving back into other classes, namely structured products.

Parents need to be cautious about including children in their SMSF and should ensure protective measures are incorporated into the operation of the fund in these types of structures, an expert SMSF lawyer has said.

There are many rules and regulations to comply with in running an SMSF. Kathleen Conroy provides a short quiz as a knowledge refresher for advisers and their clients.

The average contributions figure for self-managed funds for the year ended 30 June 2013 was $35,200, representing a fall of $12,300 from the previous year’s average of $47,500, the latest “Multiport SMSF Investment Patterns Survey” revealed.

The recent Australian Taxation Office ruling on pensions, TR 2013/5, created the opportunity for advisers to employ new advantageous methods for commencing a pension and liaising with clients, according to a specialist superannuation lawyer.

The latest SMSF Professionals’ Association of Australia (SPAA) polling has found 25 per cent of the industry body’s accounting members yet to be licensed as per the new advice framework have decided to continue to service the sector under some sort of licensing arrangement.

A recent trend occurring in the SMSF space is seeing existing trustees including individuals from generation Y as new members of their superannuation funds.