The Australian Taxation Office (ATO) has expressed its concern over the use of reserves within SMSFs and pointed out advisers need to consider these strategies carefully before recommending their implementation as they add a potentially unwanted layer of complexity to running a retirement savings fund.

The Australian Securities and Investments Commission (ASIC) is seeking interim and final orders from the Supreme Court of New South Wales to prevent property investment promoter Park Trent Properties Group from operating a financial services business without a licence.

The latest industry research into retirement incomes has shown SMSFs hold more than double the funds under management (FUM) of any other sector in the industry.

The Financial System Inquiry (FSI) has indicated its preference for a total ban on the use of gearing inside superannuation funds, but this course of action is unnecessary and would lead to poor outcomes for the SMSF sector, according to an industry expert.

Independently owned financial planning group MyPlanner Australia, formerly known as SMSF Partners, has appointed Philippa Sheehan as its new managing director.

Independent financial planning dealer group Fortnum Financial Group is now offering a limited Australian financial services licensing arrangement for accountants servicing SMSF clients.

The Australian Securities and Investments Commission (ASIC) is seeking interim and final orders from the Supreme Court of New South Wales to prevent property investment promoter Park Trent Properties Group from operating a financial services business without a licence.

Financial services software provider IRESS has engineered an integration between its wealth management and financial advice platform Xplan and SMSF administration software specialist Class Super.