The proposed requirement for SMSFs to develop a retirement income strategy is not expected to be a major issue for trustees to implement, though planning for longer periods may have some repercussions, an SMSF specialist adviser has said.

The majority of SMSF trustees understand the importance of portfolio diversification, contrary to popular belief, however, many still find it difficult to execute, according to new research.

Only one in five advisers believe their SMSF clients hold well-diversified portfolios, highlighting a significant portfolio construction opportunity, new industry research released today has revealed.