Australia’s self-managed super fund (SMSF) sector is growing rapidly. In fact, many Australians are choosing to open a SMSF to take more control of their retirement. By the end of 2024, total self-managed super fund assets exceeded $1 trillion.
As a result, this increase in new funds has driven more demand for financial guidance. In this blog, we explore the growth of SMSFs, the advice gap, and changes in portfolio trends. Our Geelong financial advisors and accountants can help you navigate this growing landscape.
SMSFs are growing, but advice gaps remain
Record-breaking SMSF numbers
At the end of 2024, there were 638,411 SMSFs supporting more than 1.18 million members. This included 26,000 new funds created in that year.
Of all SMSF inflows, 57% came from industry super rollovers and 23% came from retail rollovers.
Self-managed Super Fund advice
The number of SMSFs working with advisors grew to 155,000 in 2024. That was up from 140,000 in 2023. However, about 483,000 SMSFs still operate without professional advice.
The number of unadvised trustees planning to seek help increased 34%, up from 25% one year earlier. This signals a growing interest in professional support, though many still face challenges.
Geelong Financial Adviser advice
For new SMSFs, the cost of advice remains the biggest concern. For advised SMSFs, many want more complete or holistic advice. If you’re unsure what services apply to you, our Geelong financial advisers at LBW can help you explore practical and affordable options.
SMSF tax savings advice
New self-managed super fund members often seek help with tax savings. In fact, 37% listed this as their top need. Others focus on insurance and buying investment properties.
Even those already receiving advice have gaps. There are multiple common missing support areas. For example, estate planning and intergenerational wealth strategies.
No matter the type of SMSF advice you need, our Geelong financial advisers can assist you. Meet reporting obligations and review your SMSF structure with a knowledgeable financial adviser by your side. Our Geelong financial advisors can aid with legacy planning, contributions, and retirement transitions.
What SMSF portfolios look like in 2025
Asset levels are increasing
Almost half of all SMSFs now hold over $1 million. These higher-value funds make up 84% of all SMSF assets.
New SMSFs are starting strong
In 2024, the average new self-managed super fund opened with a balance of $430,000, up from $410,000 in 2023.
ETF investments are on the rise
ETF (Exchange-traded Fund) investments reached record levels. In total, 315,000 SMSFs hold at least one ETF. Among newly opened SMSFs, 61% include ETFs in their portfolios.
Shares remain a top choice for SMSF portfolio
Direct shares still make up 37% of the average SMSF portfolio. This amount rose from 30% in 2023. Trustees now invest an average of $450,000 in shares.
What retirees are doing
More retirees are shifting toward capital preservation. While 34% still focus on income, others choose balanced or defensive strategies.
Cash balances are falling
Cash still acts as a core part of SMSF portfolios. However, average cash holdings fell to a 10-year low in 2024.
Non-super investments play a big role
Many SMSF trustees also invest outside their super. These investments include property, direct shares, cash, and ETFs.
Our Geelong financial advisers can assist with structuring and compliance, both inside and outside your super. Plus, they can help adjust your asset mix to meet changing goals.
Get advice for your self-managed super fund
It’s important to make informed decisions, track rules, and maintain the right structure for your self-managed super fund.
Our team supports SMSF trustees at every stage. We guide you with clear advice, tailored plans, and reliable services. Call (03) 5221 6111 or visit www.lbwca.com.au to speak with our trusted Geelong financial advisers from LBW today.
This blog provides general educational information only. The content does not take into account your personal objectives, financial situation or needs. You should consider taking financial advice tailored to your personal circumstances.
LBW Business + Wealth Advisors is an Authorised Representative of LBW Wealth Pty Ltd ABN 56 652 382 128 AFSL 534569. Please see our website www.lbwca.com.au or call 03 5221 6111 for more information on our available services.
