“You know that they have pitfalls, and I’ll give you a challenge. There are people considering SMSFs who shouldn’t be in them — you can help them see that, and help them move out of them,” he told delegates at the SMSF Summit in Adelaide last week. 

“You are the circuit breaker. We see it, but we often see it too late. Like a year [or] a year and a half later,” he said.

Mr Dickinson said to particularly be aware of those trustees who are following unqualified advice, given SMSFs are becoming increasingly popular with the broader population.

“It’s you that can help an SMSF trustee with that great piece of knowledge they’ve learnt at the pub, we don’t see it, they don’t tell us,” he said.