SMSF Statistics To December 2025 - Strong Growth Continues
ATO December 2025 SMSF Data Release – Key Insights
The ATO has released its December 2025 SMSF statistics, confirming continued strength in new fund establishments, member growth and overall assets.
All member dashboards have now been updated. Below is a summary of the key data points, with references to the relevant dashboard numbers.
Record Fourth Quarter for Establishments (D3)
The December quarter (Q4 2025) was the strongest Q4 on record for new SMSF establishments, with 11,822 new funds created. This comfortably exceeded the previous Q4 record of 9,776 set in Q4 2024.
While Q4 was a record for that quarter, the all-time single quarter record remains Q3 2025, with 14,992 establishments.
For the full 2025 calendar year, 48,464 SMSFs were established, significantly higher than 2024, which recorded 37,701.
Net establishments remain strong. It is important to note that there is typically a lag in closure data, as SMSFs that wind up can take several quarters to be fully reflected in the statistics.
Financial Adviser Opportunity Continues to Expand (D1)
The SMSF-to-adviser ratio continues to rise.
As at 31 December 2025, there were 44.1 SMSFs per financial adviser*, compared with:
40.4 in Q4 2024
20.4 in Q4 2018
*This metric does not imply that all SMSFs use advisers. Rather, it illustrates the relative scale of opportunity per adviser as adviser numbers have declined and SMSF numbers have grown.
The asset opportunity per adviser has also increased steadily:
$68 million per adviser (Q4 2025)
$62 million (Q4 2024)
$22 million (Q4 2018)
The structural expansion in both fund numbers and asset pools continues to support adviser opportunity.
Total SMSFs and Members (D2)
As at December 2025:
663,867 SMSFs
1,224,936 members
This compares with Q4 2024:
625,642 SMSFs
1,154,961 members
Growth in both funds and members has accelerated since 2022.
Net Assets and Averages (D4)
Total SMSF net assets have reached:
$1.022 trillion (up from $964 billion in Q4 2024)
While total assets continue to grow, average balances have softened slightly over the quarter:
Average assets per SMSF: $1,153,254 (down from $1,562,101)
Average assets per member: $834,215 (down from $845,639)
The decline in averages reflects a combination of:
Strong growth in newly established funds (which typically begin with lower balances)
An increasing number of members
A high proportion of funds in retirement phase
Notably, 38.2% of SMSFs have at least one member aged 65 or over (D10), contributing to drawdown activity.
New Members by Personal Income and Gender (D11)
The most common personal income range for new SMSF members is:
$100,000–$150,000, representing
28.0% of males
23.2% of females
Looking across all income bands for total membership:
The largest proportion of females (19.3%) falls within the $0–$20,000 income range
The largest proportion of males (17.4%) falls within the $100,000–$150,000 range
This continues to reinforce the income skew toward mid-to-higher earners entering the SMSF sector.
Additional Dashboard Insights
The dashboards include further breakdowns covering:
Assets
State-by-state representation
Cost data
Additional Demographics
Time-series comparisons
Users can filter by time frame and segment to explore the data in more detail.
To access all 14 Dashboards - become a member today.
Access All The Data Now For Just $39.00 for the first month.
First Month Now Only $39.00 Selecting 'YEARLY' cost is only $950
*SMSF Opportunity For Financial Advisers - Continues To Grow and More Than Doubled Since 2018.
