SMSF Statistics To September 2025 - A Record Quarter
The ATO’s September 2025 SMSF data shows a record 14,494 new SMSFs, surpassing the previous record of 11,244 set in June 2025.
September is usually the strongest quarter for new establishments. However, 14,494 is a significant increase to the previous September record of 10,862 set in 2024.
Net establishments (new minus wind-ups) remain very strong. Wind-ups usually lag and take several quarters to show up.
Total SMSFs are now 661,384, up 37,236 from 624,148 in September 2024.
Our SMSF Data Dashboards are updated, giving members access to 14 dashboards, including adviser data. The free set of dashboards will be made available in the new year.
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We have added the adviser population data to the SMSF data. The dashboards are mostly interactive, enabling users to conduct their own analysis.
Key points and dashboard number shown below: Note - Not all dashboards available in Free Version
D1, D2 - The SMSF opportunity is still growing for existing advisers.
For this quarter there is potentially a total of 42.9 SMSFs per adviser compared to 40.3 for September 2024. Back in September 2020 the number was 27.1
In assets - there is a potential of $67 Mil per adviser, much as it was in June 2025. In September 2024 it was $64 Mil and September 2020 it was less than half at $32 Mil.
D3 - The rate of SMSF establishments still growing - As highlighted above, the September quarter was a new record, ahead of the last quarter which was the previous record.
D4 - Total Net Assets stay above one trillion - Currently at $1,034 Bil, and in June it was at $1,013 Bil. In September 2024, net assets were at $986 Bil.
D4 Average balance per SMSF and by member dip -
The average SMSF is at $1,563,546 just below the June quarter of $1,565,247. The average balance is also below September 2024,which had the highest average balance at $1,580,186.
By member, the average balance follows a similar path. For this quarter it at $846,363 down slightly from June which was at $849,678 and below the record set in September 2024 at $855,120.
Note: median balances are much lower than averages see D6 for details. The details for 2023/24 have been updated and are at $932,572 per SMSF and $529,433 per member. The averages are skewed by a small number of very large SMSFs.
D7 to D9 Assets / Investment - Holdings of Cash + Term Deposits once again dipped and now at a record low of 16.3% of assets. Listed shares at 28.6% continue to be the largest holdings. Crypto makes up around 0.3% of all assets.
D10 New establishments for the quarter by gender - Male at 54.6%
D11 Quarterly establishments by personal income and gender - Males earning between $100K and $150k at 28.4% being the largest group followed by females in same income rage at 22.1%.
D12 Flow of Funds - The flow of funds have been updated by the ATO for the full 2023/24 year. The net flow is negative at (-$22.7 Bil). This is a large increase on the 2022/23 year which was negative (-$12.3 Bil). The increase in outflows flow was caused by a jump in benefits being paid out at $57.66 Bil, compared to $42.82 Bil in 2022/23
D10 Age groups - Current age by members shows that 50.8% are now over age 60
D14 - Fund and Assets By States - NSW's share of new SMSFs was again high at 38.00%% up from the usual 33.4% shown annually for 2023-24. This increase came mostly at the expense of VIC, which is at 25.6%.
SMSF Growth - New establishments, windups and net establishments for SMSFs by quarter - New Record at 14,494
Note: dashboards include historical data
You may also find the latest APRA Super Fund Statistics By Fund Type - Click Here -
The Full Suite of SMSF Funds Data and Analysis Dashboards are available at the Members Lounge And includes our latest data for APRA based Funds.
