Who administers your SMSF?

I was recently asked by a SMSF Magazine to comment on the question 'Should there be a minimum balance for SMSFs?'. The inference seems to be that someone's superannuation balance is a proxy for their investment expertise which, of course, it isn't. There are plenty of dedicated, educated investors with $50,000-$100,000 in super, as there are quasi-gamblers with a million. So, no, we don't need a minimum balance for SMSFs, especially as we've already got excessive admin costs to largely do the job for us. Our national obsession with regulation by paperwork means the costs of administration act as a...

I was recently asked by a SMSF Magazine to comment on the question 'Should there be a minimum balance for SMSFs?'. The inference seems to be that someone's superannuation balance is a proxy for their investment expertise which, of course, it isn't. There are plenty of dedicated, educated investors with $50,000-$100,000 in super, as there are quasi-gamblers with a million.

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