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SMSFs still on top for member satisfaction

SMSF members continue to report very high levels of satisfaction with the performance of their fund, according to rolling research.

 

SMSFs continue to record the highest level of satisfaction from their members in regards to their financial performance, according to consumer polling conducted by Roy Morgan.

In the latest edition of its “Superannuation Satisfaction Report”, the market research firm found overall satisfaction with superannuation increased from 64.7 per cent to 71.7 per cent for the year from April 2020 to April 2021.

SMSF members reported the highest level of satisfaction with financial performance at 81.1 per cent, up 5.8 percentage points from 75.3 per cent over the year. While that was not the largest increase in satisfaction across the different segments of superannuation, SMSFs were also the highest rated sector for satisfaction in April 2020.

Retail superannuation funds recorded the highest increase in satisfaction levels, up by 7.2 percentage points from 60.6 per cent in 2020 to 67.8 per cent in 2021, but despite this they still ranked behind industry funds, public sector funds and SMSFs in terms of overall satisfaction.

Public sector funds ranked second behind SMSFs for overall satisfaction at 78.9 per cent, up 4.8 percentage points since April 2020, while industry fund satisfaction rose by 6.8 percentage points over the year to April 2021.

Roy Morgan chief executive Michele Levine noted the highest levels of satisfaction across the board followed the ending of the harshest conditions of the COVID-19 restrictions and strong gains on the ASX 200, which has added 1245 points to 6790 since the end of the Victorian lockdown in October 2020.

The satisfaction figures were taken from the Roy Morgan Single Source Australia survey conducted between November 2020 and April 2021 with a sample size of 19,117 Australians aged 14 years and over with work-based or personal superannuation.

SMSFs have regularly recorded high levels of satisfaction in past surveys, including during and after the COVID-19 lockdowns of 2020.

 

 

Jason Spits
May 26, 2021
smsfmagazine.com.au

 


David Forrest Download David's Adviser Profile

David Forrest

Director
BEc (Acc), MBA, CPA, FFin

David has been in the Financial Services Industry for nearly 30 years. He was one of the founding Directors of the successful Financial Planning and Stockbroking Practice, Henderson Gregory Forrest, for a decade. Prior to that, he held senior roles in companies such as ING, KPMG Accountants and AMP. David was previously Chairman of OAMPS Superannuation Trustee Board and currently serves as an independent Board Director for several companies.

David’s extensive experience in all forms of superannuation, including Self Managed Super Funds (SMSF), Defined Benefit Funds, retirement funding through Account Based Pensions, stockbroking with a focus on Direct Share Investment, Taxation/Remuneration Planning, Centrelink, Aged Care and business management, equip him to advise expertly on all aspects of Financial Advice.

Those with a particular interest in superannuation/SMSFs, direct share investment, salary packaging or applying for the Centrelink Pension will find his knowledge and ability in formulating and implementing creative, logical and simple wealth creation strategies a valuable asset.

David maintains a strong personalised client service focus, providing tailored solutions for clients.

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David Forrest is an Authorised Representative of Integrity Financial (SA) Pty Ltd ABN 16 133 921 187 — AFSL No 334846

Michelle Forrest

Michelle Forrest

Business Finance Manager
B Bus (Acc), CPA

Michelle’s career has spanned across the Financial Services, Retirement Living and Aged Care industries working in the private sector, not for profit and more recently with the state government for over 20 years. Her experience extends to many facets of the financial services industry, having worked in superannuation administration, technical support and financial planning practice administration.

Commencing with AMP and subsequently working in commerce and accounting roles with companies such as Brambles, Adelaide Bank Retirement Services, ECH Inc and SA Health and Wellbeing, Michelle returns to financial services after working in practice financial management at Henderson Gregory Forrest. This wide range of experience from senior accounting and management roles has provided Michelle with a strong background in business administration.

With an astute financial acumen and keen interest in business improvement strategies, Michelle ensures the smooth running of the Integrity Financial Advisory practice providing valued management support to our personalised client service focus.

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Darren Chalk Download Darren's Adviser Profile
Natasha Bartlett
Kelly Collins
Jasmine Smith

Jasmine Smith

Client Service Manager

Jasmine has worked in the financial services industry for over 12 years in all areas of client administration, working with David since 2013.

Jasmine has extensive knowledge and experience in client service including implementation of advice, portfolio reporting, assisting with the establishment of Self Managed Super Funds (SMSFs), term deposit management and a long history of helping clients with their enquiries.

Jasmine’s attention to detail, yet gentle approach, means she is able to solve the trickiest of questions for our client community.

Jasmine has gained her Certificate III in Financial Services qualification.

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Merrilyn Smith

Merrilyn Smith

Senior Client Service Manager

Merrilyn has worked in the financial services industry for over 11 years in all areas of client administration, and is a new addition to our client services team, returning from Melbourne to join the team in June 2019.

Merrilyn has extensive knowledge and experience in client service including implementation of advice, managed fund administration, assisting with the establishment of Self Managed Super Funds (SMSFs) and process improvement for the previous practices she has worked with. Merrilyn’s experience with direct shares constitutes the other part of our administrative support for direct equity investments.

Merrilyn’s warm and caring nature continues to endear her to our clients and she has already established herself as a valued member of our team.

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