What are the ages of the members of your SMSF?
We are mid and late 60s.
Why did you start your SMSF?
I was offered redundancy from the Commonwealth public service in the late 90’s. Like most, we selected a financial advisor to assist and we established a superannuation wrap account, which provided some exposure to managing a portfolio of shares. This was great for a few years until we established that our advisor was doing pretty well from our money. We have a long-standing association with a stockbroker and, as a result of his suggestion; we decided to establish our own SMSF with the support of his company’s portfolio administration service in 2012.
How large is your SMSF?