SMSF strategists need to treat their websites as shop windows in order to maximise their effectiveness for generating new business for their practices, according to a financial services marketing expert.

The SMSF Professionals’ Association of Australia (SPAA) has used its Australian Securities and Investments Commission (ASIC) Consultation Paper 216 submission to refute the cost analysis of SMSFs performed by Rice Warner on the regulator’s behalf.

Restricting SMSF investment in property would potentially lead to adverse price implications in other asset classes, according to the head of a structured products funds management house.

SMSF trustees and advisers need to be aware of the discretionary powers in the hands of the Australian Taxation Office (ATO) in its use of the Super Fund Lookup facility as they are wide ranging and do not incorporate an appeals process, according to a sector specialist.

Financial advisers servicing SMSF clients need to know the difference between a qualified audit report and an auditor contravention report (ACR) and the different implications of each, according to a specialist SMSF auditor.

Fixed-interest inflation-indexed investments would suit the needs of self-funded retirees running their own super fund very well, a recent SMSF study conducted by financial services research house DEXX&R concluded.

Australian Taxation Office (ATO) questions about the legitimacy of an SMSF during set-up phase are purely for compliance purposes and not for public use, according to the regulator.

AMP has rejected the Australian Securities and Investments Commission’s (ASIC) proposal for SMSF advisers to disclose when an SMSF may be a cost-effective retirement savings vehicle compared to other superannuation funds.

The use of specific procedures, such as a conditional pension and the appointment of a fund member’s guardian, can help ensure death benefits are distributed as per the wishes of a deceased SMSF member, according to a recognised industry lawyer.