SMSF advice crucial
Advisers who want to keep their clients will need to brush up on their SMSF advice, says AMP’s Peter Burgess.
Mr Burgess told a financial adviser’s conference on the Gold Coast that SMSF clients needed different advice for each stage of their investment.
He said some people would need advice about setting up an SMSF; some would need advice about administration; and some would need help with investment strategies. He said SMSF clients expected an “informed discussion”.
A key to good advice was identifying what stage of superannuation the client was in.
Mr Burgess said people who were considered as experts in SMSFs were also regarded as experts in superannuation.
He said clients that did not get a reasonable level of expertise from financial advisers would walk away.
Advisers who were not giving SMSF advice people close to retirement or entering retirement risked losing their client base.