Financial advisers should be ramping up their communication with clients and reassessing portfolios during this time of economic uncertainty, a senior advice executive has said.

The market impact of the coronavirus outbreak and the latest RBA rate cut has heightened the need for specialist SMSF advice, the SMSF Association says.

Ongoing reforms from the Hayne royal commission will increase the cost of advice and reduce the time in which financial planners can provide it, according to the FPA.

As Australians retire with more savings than ever before, the federal opposition would like quality financial advice to be more accessible to the greater public.

The SMSF business model, where everyone who wants an SMSF gets one, has a limited future, an SMSF advice expert says.