Ann: Class - 31 December 2018 Update, page-21

Agree @mgtcam - consolidation is the main game. I’m not in agreement re your theory on “game over” on people’s sentiment toward SMSFs though. The main reason why people choose self managed is because they want control - not tax breaks or cont limits, they don’t trust the big guys nor the “system”
and the RC has added further fuel to this belief. They want control and regardless of a public offer fund can do what they want to do inside their fund - they just don’t trust the bast&$.’s anymore. The insto’s and industry funds have shot thenselves in the foot - trust is very hard to earn and is almost impossible to recover.

Whether you, the insto’s,industry funds, or the regulator like it, mum and dad trust their accountant as they were the ones that helped them get their first business loan, finance their house, help settle their divorce(S) etc etc. they were here through goo d times and bad and their voice counts.

IMO - SMSF’s are here for many years to come. They are a tax structure and just a continuum of an accountants mandate which is to create and preserve their clients wealth for them and their beneficiaries. Unconflicted and unbiased.