'Intelligent' talk to win SMSF business

by Mackenzie McCarty01 Jun 2012

Tangible property assets for superannuation funds will continue to be popular, and brokers can capitalise if they understand how to talk to their clients about the products.

CoreData principal and founder Andrew Inwood has said that SMSFs are a part of the property market where he sees real growth potential for professionals geared up to advise on them.

"This is a part of the industry where we see real growth potential," Inwood said. "As people come come out of cash and into property, the industry needs to play a part."

Inwood said at present, many SMSFs have a lot of assets in cash, but are looking for a 'beyond cash' strategy. He said that tangible property assets are something Australians understand.

Inwood suggested brokers could increase their chances of securing SMSF business by building relationships with accountants, who have become the dominant players in the SMSF space.

"People don't understand the compliance of SMSFs very well. If brokers can talk around those issues intelligently, clients will be interested," he said.

Liberty Financial general manager of commercial finance, Suresh Pillai, told Australian Broker that demand for its SMSF products has increased since their launch last year.

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