This is the time of the year when many will be reviewing their financial arrangements and may be tempted to set up a self-managed super fund (SMSF).
The popularity of SMSFs is starting to wane but the overall number of these accounts is still trending up as many superannuants find the ability to limit fees and directly control where their retirement savings go to appealing.
The Hayne Royal Commission may prompt further interest in SMSFs given the conflicts of interests that were exposed at the big four banks, like Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Ltd. (ASX: NAB), and AMP Limited (ASX: AMP).
SMSF net establishments (difference between accounts opening and closing) have been falling since the 2015 financia…
Read the full article at: https://au.finance.yahoo.com/news/3-things-know-setting-smsf-003043046.html