How to get the most from your SMSF Accountant

“A SMSF Specialist Accountant who is licenced to provide you with financial advice surrounding your retirement will enable you to understand the rules, provide efficiencies in the administration and compliance for an affordable cost that you can control, and ultimately provide you with strategies that optimise the benefits of a SMSF effectively allowing you to reach your financial retirement goals.”

Anyone with a SMSF find they need the services of a great accountant to help them manage the compliance and ever-changing landscape of their superannuation. In addition, accountants are now required to be licenced within the financial services framework to provide you personalised advice surrounding your SMSF and retirement, So which services do you actually need, how much should you pay for them, and how do you make sure you’re getting good value for money?

Here’s our top 5 tips for getting the most from your SMSF Accountant while managing the cost of its service. These are important issues to address; used effectively, your SMSF Accountant can make a huge difference to your SMSF & retirement growth.

1. Are they Progressive

Ask if your accountant is engaging and using up to date software that enable them to have real-time information about your SMSF. This will help in managing the costs by providing time saving efficiencies and give them a more accurate platform to provide advice when and where you need it.

Your Accountant’s experience and knowledge working with these platforms will also be invaluable, ultimately providing you with up to date tax effective strategies and advice, all contributing to your retirement growth.

2. Do They Know Their Stuff

While you're responsible to determine and manage the investments to grow your retirement within your SMSF, it imperative that your SMSF Accountant is an accredited Specialist in this field. This will give you confidence of their advice and will help keep you on the right side of the regulator when making decisions within your SMFS.

Over time, the SMSF landscape and what you require from your accountant will change – you may need additional, more wide-ranging services, or less support as the family grows. Updates and budget changes affect everyone differently and superannuation law is a delicate area requiring specialised knowledge. Money Smart website recommends “If you do get SMSF advice make sure you get it from an expert, for example, a member of the Self-Managed Super Fund Association.

3. Can you buy what you need

A licenced SMSF Accountant can give financial advice and offer a menu of services surrounding your retirement. This will assist in developing a superannuation solution that will effectively allow you to reach your financial retirement goals. Think carefully about what you actually want and particularly look at the support an accountant who is also licenced to provide financial advice surrounding your retirement can give you as your SMSF retirement grows.

4. Timing is crucial

When things change either through government policies or a life event, it’s imperative that your accountant has real-time information about your fund and your financial position. This can only be achieved with them by either having regular interaction and / or access to your SMSF financial information through online platforms.

This will enable your accountant to help you make decisions based on current information and is critical to avoid costly mistakes when it comes to contribution caps and pension limits.

5. Relationships matter

It’s your accountant’s responsibility to make an important contribution to your SMSF’s growth, but if you don’t trust them, or feel comfortable talking frankly and openly with them, you won’t be able to take full advantage or optimise the benefits of running your SMSF. Your SMSF accountant should be a trusted partner who is also able to provide licenced advice and constructive support as you run your SMSF. If that’s not an accurate description of your relationship, it’s time to ask why.

Maven Advisors – your SMSF financial partner, accountant and compliance specialist all rolled into one.

Maven Advisors puts you in control. You choose the services that you need, and we’ll deliver them all at a price you can afford. If your accountant is not fulfilling your needs, it’s time to have a chat to us.

PH: 02 6584 9201 

Email: [email protected]

Book an Appointment

General advice disclaimer

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of any advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.


How to get the most from your SMSF Accountant