Advisers and their SMSF clients need to be mindful of the differences between an individual’s total super balance (TSB) and their general transfer balance cap (TBC) before formulating relevant strategies such as those centred on contributions, according to a specialist lawyer.

The latest Australian Securities and Investments Commission (ASIC) report has revealed the regulator witnessed a late rush of limited Australian financial services licence (AFSL) applications.

The familiarity that individuals have of a particular company may help address the situation many SMSF investors are often accused of facing, that is, having disproportionately large portfolio allocations to Australian equities, a behavioural finance executive has said.

Class has added the ability to process information pertaining to international assets through incorporating direct-connected data feeds from HSBC in its SMSF administration software application.

Advisers need to ensure decisions made about risk cover for SMSF members are well documented to avoid the possibility of litigation against them, according to an insurance specialist.

The $1.6 million transfer balance cap coupled with the proposed change in contributions caps could lead to a spike in SMSF establishments in the immediate future, the partner of a chartered accounting firm has predicted.