Dover has a special relationships with SMSFs.
Dover’s SMSF office is one of the largest SMSF offices in Australia and in 2015/16 we expect to handle more than 3,000 SMSF audits and compliance tasks.
There are currently 65 staff and counting. Dover’s SMSF office grows very rapidly which means our pool of skilled accountants are also expanding.
Dover encourages advisers to set up SMSFs for their clients and to then implement sound and sensible investment strategies. Common presentations include SMSFs and:
- LRBAs, particularly with residential property (other than off the plan and apartment sales)
- direct shares, with regular client meetings to review progress and determine the investment strategy for the coming period;
- self-occupied business premises (eg a doctor’s surgery); and
- single asset investment strategies (eg a CBA fixed deposit, or a Vanguard index fund).
If you believe that one of these strategies, or a similar strategy, is in your client’s best interests and appropriate to your client, and a reasonable financial planner would agree, then Dover encourages you to implement it for your client.
SMSF strategies are great for advisers because they keep you involved in your client’s financial affairs. They are a genuine and ethical way of increasing your fees and creating extra CGT free capital value in your practice.
Dover believes more advisers should be using SMSFs and encourages advisers to recommend SMSFs.
Dover sets up SMSFs for advisers for free, and provides free technical support, as well as low cost SMSF compliance services.
Some Dover advisers have more than 150 SMSF clients generating more than $300,000 extra fees every year, as well as insurance commissions and investment advice fees. Their SMSF practices are a significant part of their overall practices, and contribute significantly to profit, net cash flow and value.