How will FOFA and Stronger Super impact on the provision and management of SMSFs in the advice market in the next two to five years?

Forward Thinking recently assembled seven SMSF experts to participate in an in depth discussion focusing on the possible impacts to SMSFs over the next five years of the Future of Financial Advice (FOFA) and Stronger Super reforms. The discussion was chaired by David Shirlow and covered a wide range of topics including accountant licensing, education and commissions in super, and the future of SMSFs.

Macquarie has been part of the SMSF discussion for over 20 years and we have a strong history and range of expertise. Take a look at the products and services we offer to help you manage your clients' SMSFs.

Analysis and discussion

Part 1 of our roundtable analysis focuses on the panel’s discussion of scaled advice, the licensing of accountants and the banning of commissions in insurance. Read the article

In Part 2 of our analysis, we focus on the practice management issues raised by the proposed reforms and how SMSF practitioners plan to prepare and future-proof their businesses. Read the article

A range of materials from the discussion, including videos, panel profiles and photo gallery, are available on this site, as well as educational SMSF materials from MAStech, and information about Macquarie’s SMSF-ready products and services.

Profiles

  • David Shirlow

    David Shirlow has degrees in Law and Economics from the University of Sydney and is an Executive Director with Macquarie Bank. He manages government relations and technical commentary for Macquarie Adviser Services.

    David is a director of the SMSF Professionals' Association of Australia ('SPAA'), a member of the Superannuation Board Committee of the Financial Services Council, a practising member of the Law Society of NSW and a fellow of the Taxation Institute of Australia.

    He has been involved with the financial services industry since 1985 and has been a key driving force in lobbying for superannuation law improvements over that time.

    David Shirlow
  • Martin Heffron

    Managing Director of Heffron Consulting

    Martin established Heffron with his wife Meg and is now the driving force behind the management and leadership of this dynamic organisation.

    Martin is committed to the continuous raising of standards within the SMSF industry and making Heffron the natural home for SMSF leaders in Australia.

    Martin Heffron
  • Andrew Hamilton

    Managing Director of Cavendish Superannuation
    Vice Chairman and Director of the SMSF Professionals' Association of Australia ('SPAA')

    Andrew Hamilton is the Managing Director of and a Shareholder in Cavendish Superannuation Pty Ltd, Australia's largest administrator of Self Managed Superannuation Funds (SMSFs).

    Andrew, together with fellow directors John Row and Andrew Row, built Cavendish from a small bureau specialising in compliance administration with half a dozen clients in 1993 into a business which today administers more than 5000 funds and employs 120 staff. Additionally, Andrew has recently completed Cavendish's acquisition of Bendzulla Actuarial, a Hobart-based, nationally-operating consulting firm specialising in the provision of actuarial certificates for Super funds in pension phase.

    Andrew Hamilton's involvement in superannuation dates back a quarter of a century and this background and experience, together with Cavendish's track record, means he is in demand to address professional development and SMSF educational seminars.

    Andrew Hamilton
  • Vicki O'Connor

    Principal - Financial Planning, WHK Central West NSW

    Vicki has been working in the finance industry as an accountant since 1984. She specialises in portfolio wealth management and in providing quality strategic and investment advice.

    She has extensive experience in taxation planning, social security advice, retirement planning, superannuation, financial planning strategies, portfolio management and estate/succession planning.

    Vicki firmly believes that every client should have a sound plan to achieve their financial and lifestyle goals, and strategies in place to maximise the opportunities available.

    Vicki is a member of the Financial Planning Association.

    Vicki O'Connor
  • Daniel Tramontana

    General Manager, BGL Corporate Solutions

    BGL is the leading supplier of compliance computer software for accountants, corporate groups and other professional service operations. 

    Daniel joined BGL in 1997 after completing a degree in computer science and accounting. Before joining BGL, Daniel worked in public practice for several years which provided him with valuable insight into the accounting industry. Daniel also completed an MBA in 2004 and was promoted to BGL Operations Manager in 2005 becoming General Manager in 2008. Daniel is responsible for all operations and the design and implementation of BGL's business strategies.

    Daniel Tramontana
  • Jane Couchman

    Division Director, Macquarie Private Wealth 

    Jane has been in the financial services industry for over 17 years. A lawyer by trade, she has branched out into risk management and regulatory change management.
    She is held in high regard by the industry, the regulators and her colleagues and has a strong strategic understanding of the proposed regulatory changes. Prior to joining Macquarie, Jane was the Chief Risk Officer at BT Financial Group, the wealth management division of Westpac.

    Jane leads an internal Macquarie Bank working group on regulatory reform and is responsible for how Macquarie Private Wealth responds to the opportunities and threats of the ever-changing regulatory environment.  

    Jane Couchman
  • Themi Karakaidos

    Senior Private Client Adviser, Macquarie Private Wealth 

    Themi has more than 17 years experience in the financial advice industry working in a variety of areas including technical, research and client advice. He joined Macquarie in 2003 and has provided tailored investment and strategy advice to a wide range of clients for both business and individual purposes.

    Themi’s expertise covers shares, managed funds, portfolio management and asset allocation advice.  He takes into consideration all facets of a client's financial circumstances and assists them to project manage their personal financial decisions. He believes that through this approach clients may be better placed to maximise their wealth and achieve their financial goals today and into the future.

    Themi Karakaidos

Videos

Introduction

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Introduction

Panel Introductions

Opportunities and Threats

Accountant Licensing

Scaled Advice

Accountant Licensing II

Insurance

Value of Advice

Accountant and Advisers Integration

Future SMSF Costs

Positioning their Business

Future Growth of SMSFs


More videos

  • 1 in 4 SMSFs use the Macquarie CMA as the heart of their portfolio. Find out why
  • Macquarie Wrap brings the right pieces together for SMSFs. Find out how

Photos

What products and services can Macquarie offer to SMSFs?

Macquarie has been providing services to SMSFs for more than 20 years and offers a wide range of product solutions to help you grow and manage your clients’ SMSF, no matter what their needs. Find out more below:

Cash Management

With the Macquarie Cash Management Account (CMA) at the heart of their SMSFs, your clients could earn a competitive interest rate, save time on administration and easily act on investment opportunities.

  • 1 in 4 SMSFs use the Macquarie CMA as the heart of their portfolio1. Find out why

Term deposits

Irrespective of market fluctuations, a term deposit can deliver stable, predictable returns, which can be important in retirement. Macquarie Bank Term Deposits are compatible with SMSFs and offer competitive interest rates for terms up to 24 months.

Platform administration

With secure online access to account information for SMSF trustees, advisers, accountants and administrators, and extensive investment choice, Macquarie Wrap, the top platform of 20112, helps simplify investment administration for SMSFs, no matter how complex the portfolio.

  • Macquarie Wrap brings the right pieces together for SMSFs. Find out how

Shares and ETFs trading

You can buy and sell shares and Exchange Traded Funds (ETFs) within your clients’ SMSF through Macquarie Prime. Macquarie Prime also offers features such as stop loss and guaranteed stop loss orders to protect positions, potentially enabling you to benefit from rising share prices and dividend income while protecting your investments against a fall in share price.

Managed funds

Managed funds allow you to diversify your clients’ SMSF portfolio, gain access to expert investment managers and a range of markets including domestic, international, futures and more. Macquarie offers a range of managed funds for SMSFs.

Life insurance

Macquarie Life Active is a revolutionary product that blends disability and life into one simple, integrated package. It is a genuine all-in-one insurance package that provides lump sum cover not only for death and terminal illness but also for a whole range of Health Events. If holding life insurance through their SMSF is right for your clients, they may want to consider Macquarie Life Active.

Macquarie Equity Lever

Macquarie Equity Lever (Equity Lever) is a unique investment opportunity designed to help you grow your client's SMSF.

Equity Lever provides your clients with leveraged exposure to select ASX-listed securities through Instalment Receipts, allowing them to benefit from any growth and income potential.

Macquarie Lifetime Income Guarantee Policy

Macquarie Lifetime Income Guarantee Policy provides your SMSF clients with a flexible, low cost investment and guarantees a minimum level of income for life - without locking away their superannuation savings.3

Education

Our technical team, MAStech, provide a range of SMSF-specific educational materials to help keep you on top of the technicalities of managing SMSFs. We also offer a range of materials to assist you in discussing SMSFs with your clients.

In the media

David Shirlow talks to Investor Daily magazine about how Contribution Cap woes continue for SMSFs. Article by Karin Derkley. Read the article

Justin Delaney, Head of Platforms, talks to Professional Planner about the proposed ban of insurance commissions inside super. Read the article

Materials for you

MAStech Fastfacts 'Super Borrowing Rules: Limited Recourse Borrowing Arrangements'

MAStech article 'Super, tax and licensing law changes affecting SMSF borrowing - recent developments' (3 August 2010)

MAStech eBriefing 'SMSF LRBAs – structuring'(April 2011)

Webcast Why do 1 in 4 SMSFs use the CMA?

Materials for your clients

SMSF client booklet 'From set up to wind up' : this in depth booklet is designed to walk prospective SMSF trustees through the ins and outs of SMSF trusteeship.

Quick links