Alan Kohler from the Australian points out the biggest problem about SMSFs is not that finances are self managed, but because people are getting advice from property sharks. As of last week, the residential sector has an $18 billion share from the $500 billion total SMSFs, according to the Reserve Bank.
Commissions from these shares are often enticing to these so called “consultants”, the more reason for people to be mindful of their financial strategies. Investors should be proactive and responsible in making sure that they only get legitimate financial advice from licensed financial planners.
Read more about this on the Australian website.