SMSF Data To Sept, 2023
This week (Nov 27, 2023), ATO released its statistics until the end of Sept 2023. While it is a quarterly update, past quarters are also updated due to the lag time in processing SMSF funds.
We have updated our SMSF Data Dashboards - Members Have Full Access. We also include a PowerPoint version for members.
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We have put our own overlay of adviser data, and we also break down some of the data such as fees and net movement of funds at an average level per super fund.
We have also updated the SMSF Statistics dashboard, making them bigger and easier to use. The updated version sits in our Members Lounge, which can be accessed for as little as $95.00 per month.
The front page of the dashboards includes a full summary of the data, highlighting net movement and change that can be seen over the quarter and past trends. The dashboards are mostly interactive, allowing users to do their own analysis.
Some key points include:
The quarter was the best for new establishments at 7,836 since Q3 2021 when it was at 8,340.
Net establishments are currently very high at 7,727 the most since on record. However, as ATO catches up on reporting, we would expect this number to reduce.
The ‘opportunity’ for advisers in terms of the number of SMSFs divided by the number of advisers, has improved slightly at 39.05 SMSFs per Adviser, vs 38.84 for the last quarter. However, the net assets per advisers dipped slightly.
Going back to Dec 2018, the number of SMSFs per adviser has almost doubled, up from 20.24 to 39.05. While net assets per adviser has more than doubled, moving up from $22.10 Mil to $54.32 Mil.
The age group that has the greatest portion of members is 75-84, while the age group 35-44 has the greatest number of new established funds.
Net flows of funds remains negative (for 2021/22 - updated by ATO July 2023) at just over (-$10.29 Bil). This is driven by benefit payments.
Transfer of funds between SMSFs and other funds - still positive for SMSFs
The variance between Average and Median balances is significant. For example, average member balance 2021/22 is $780.254 and the median is $467,187. This is largely driven by a small minority of very large SMSF funds.
NSW is still the largest state for both the number of SMSFs and total assets.
The chart below is one of many. It highlights the ‘potential’ opportunity for advisers in terms of the number of SMSFs and net assets.
Potential opportunity for advisers.
Total SMSFs and Assets divided by the number of current advisers over each time period.
The SMSF Funds Data and Analysis Dashboards are available at the Members Lounge
