The Australian Securities and Investments Commission’s (ASIC) announcement at last month’s SMSF Association National Conference that it will be conducting a shadow shopping exercise on SMSF advice has been met with a mixed reaction from sector practitioners.

The head of a global asset management firm has refuted the federal government’s belief superannuation is a great source of revenue and questioned its use of this notion as the justification for the constant changes being made to the retirement savings system.