My SMSF – SPAA CEO Andrea Slattery

Name: Andrea Slattery
Age: 54
Other members of your SMSF: One (husband)
How long have you had your SMSF? 12 years

Why did you start it up?

My husband and I chose to set it up to ensure we were self sufficient in retirement. My husband was self-employed and I had been working in this area for many years. We were in a position where we could work together to build our superannuation nest egg.

Is it more or less difficult to manage than you thought it would be?

No, easier.

Are you glad you have it?

Definitely.

What are your views on asset allocation?

I am loath to be prescriptive about how SMSF trustees should do their asset allocation. It depends on so many factors, such as income, investments held outside the fund, age, etc, that to think one size fits all is simply wrong. What I would encourage all trustees to do is to get the best possible professional advice so that their asset allocation best meets their individual needs.

What investments do you have outside of superannuation?

None.

Do you use an advisor or any kind of service provider?

I have always used professional advisors from the outset. This includes auditing, accounting, legal and financial planning, as well as getting advice on insurance and property investment. My advisors are SPAA SMSF Specialist Advisors.

How long have you been involved with SPAA?

I was one of the founding board members of SPAA and then became its first chief executive officer in 2003.

Why did you want to become involved with SPAA?

I began working in this area as an accountant more than 20 years ago. I have always believed that SMSFs were an excellent way for some individuals to ensure they were self sufficient in retirement. SMSFs have a legitimate place with other sectors of superannuation and have been in existence since the early 1940s, but there was a perception that the SMSF sector was significantly non-compliant. We decided to set up SPAA to build a profession, assist all stakeholders in understanding the sector, to encourage proficiency in advice and to develop a level of professionalism and integrity across the industry. The degree to which we have succeeded was evident in the glowing report that Jeremy Cooper handed down in 2010, when it said that the SMSF sector was functioning well.

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.

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