The SMSF Professionals’ Association of Australia (SPAA) has declared its support for the federal government’s decision to create a register of financial advisers.

The urgency for financial planners and accountants of the baby boomer generation to put in place a succession plan or exit strategy is gaining momentum and presenting younger SMSF practitioners with a unique opportunity to purchase successful businesses.

AMP SMSF’s assets under administration rose to $18.5 billion in the September quarter, reflecting an increase in the number of customers using the company’s services.

SMSF financial planning and accountancy business owners must think like entrepreneurs and standardise all operations with systems if they want to achieve rampant growth, according to an American entrepreneurship guru.

The Institute of Public Accountants (IPA) and the United Kingdom-based Institute of Financial Accountants (IFA) have amalgamated their operations to become the IPA Group.

SMSFs are having their tax obligations made easier as a result of the increased employment of technology, according to platform provider Hub24.

Financial advisers need to communicate the value they can add in a more effective manner in order to service a larger number of SMSF clients, according to ING Direct business and savings manager Tim Hewson.

More extensive discussions about the level of risk SMSF trustees have in their portfolios need to occur to create a clearer understanding of their decisions, according to a Vanguard Australia executive.

The inclusion of hedge funds in an SMSF portfolio could be beneficial as they provided greater degrees of diversification and lessened the impact of market volatility for fund members, according to a global fund manager.