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Jessica Darnbrough
Brokers who want to take their business to the next level should diversify into the self-managed super fund (SMSF) market, industry stakeholders have claimed.
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Liberty Financial’s John Monacheff told The Adviser the SMSF sector is currently heating up significantly, representing good business opportunities for brokers.
“The industry is growing at a rate of 10 per cent per year. That growth is phenomenal and brokers would do well to get on board,” Mr Monacheff said.
“Brokers are in the perfect position to talk to their clients about a potential SMSF loan. They are trusted by their clients and they have good knowledge about the property market. They can steer their clients in the right direction and help them invest in property rather than shares.
“Clients are also looking to take control of their finances – they want to be in charge of their money and they know that an SMSF will provide them with that control, which is why they are starting SMSF conversations with their brokers.”
St George’s Clive Kirkpatrick agrees and says brokers are well positioned to write SMSF products.
“This type of product has been around for some time, but it is really starting to gain traction now and brokers who are close to their clients, can push them in the right direction,” Mr Kirkpatrick said.
