Celebrating Two Decades of SMSFs
For more than two decades, McConachie Stedman has stood alongside clients as they take control of their retirement through Self Managed Super Funds (SMSFs). What began as a small, compliance-focused service has grown into a specialist division supporting hundreds of trustees with strategy, structure and confidence.
SMSFs have long been part of the firm’s DNA. From the early 1990s through to 2006, they were managed within the Business Services and tax teams. As the industry evolved, so did the need for specialised expertise. “In 2004, the Partners recognised that SMSFs were becoming more technical and complex and required a specialist division,” shares SMSF Director Scott Maroske. By 2006, the SMSF division was formally established, marking the beginning of a dedicated approach to supporting trustees.
In the early days, the service offering was straightforward. “Initially, it was just compliance focused,” Scott explains. Over time, that offering expanded into a comprehensive and client-centred approach, including strategy, real-time reporting and collaboration across accounting, audit and financial planning teams. Today, SMSFs are supported as part of a broader financial picture, ensuring every client benefits from a coordinated and holistic service experience.
As the SMSF landscape evolved, so too did demand. Around 2007, there was a noticeable rise in the popularity of SMSFs and a significant increase in the number of funds under administration. This growth continued through periods of uncertainty. During the Global Financial Crisis, SMSFs were predicted to decline, yet the opposite occurred. “People wanted control of their super, and we saw a big growth period for the division,” Scott says. A similar trend emerged during COVID-19, when more individuals sought to take an active role in managing their investments and the division experienced another period of growth.
Technology has played a key role in shaping how clients are supported. In the early years, processes relied heavily on manual systems. “When we first started, we were using an Excel-based system,” Scott recalls. The adoption of Class Super software in 2012 marked a turning point, introducing data feeds and improving the ability to provide more timely and accurate reporting. This shift enabled the team to move beyond historical reporting and provide more proactive guidance around pensions, contributions and strategy.
Behind this evolution is a team committed to continuous growth. Over time, the SMSF team has developed both in size and capability, with individuals progressing from administration roles into specialised positions. The firm is now proud to have five SMSF Specialists recognised by the SMSF Association, a rare achievement for a regional practice. This level of expertise ensures clients receive informed support at every stage of their SMSF journey.
At its core, the SMSF division has always been focused on helping clients take control. “Helping clients take control of their retirement savings and planning for their future is incredibly rewarding,” Scott shares. SMSFs provide transparency and flexibility, allowing clients to better understand where their super sits today and where it is heading.
Looking ahead, the future of SMSFs continues to be shaped by technology, changing legislation and client demographics. There is growing opportunity to support younger clients entering the SMSF space, with education playing a key role in helping them navigate the journey. “Technology will be how we continue to improve our services for clients,” Scott explains.
Reflecting on the milestone, the sentiment is one of pride. “I’m very proud of the journey, the growth of the team and the number of clients we’ve been able to support over the years,” Scott says. From its early beginnings to a thriving specialist division, the SMSF team has helped shape financial futures for hundreds of clients across the 20 years, and the journey to help clients take control of their super continues.
Want to explore the full journey? Visit our dedicated 20-year milestone page to see key moments, insights and where SMSFs
are heading next.
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