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Despite additional training needs, brokers are increasingly integrating self-managed super fund (SMSF) loans into their business, according to a recent industry survey conducted by The Adviser.
More than 37 per cent of respondents looking to expand their offering over the next year identified SMSF loans as the product they would most likely begin to offer.
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Protection (life insurance etc.) was the next most popular, with 24.2 per cent.
This result signals a shift within the industry, with survey findings indicating that protection products were the most commonly integrated revenue stream in the preceding 12 months.
Over 48 per cent of brokers indicated they had integrated protection products within the past year.
Mamdouh Tawadros from Plan2day Financial Strategies said he has chosen to integrate SMSF loans into his business in order to provide clients with a more comprehensive service.
According to Mr Tawadros, SMSF loans are a growing market sector that will play a major role in the industry, and the additional effort and training required to offer the new product are well worth it.
“I would rather be well equipped and offer advice [based] on good knowledge and sound experience to ensure the best outcome for my clients,” he said.
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