Many SMSFs holding collectables or personal assets may be in breach of the Superannuation Industry (Supervision) (SIS) Act 1993 due to inadequate insurance cover, according to an industry insurance specialist.

Specialist accounting software provider BGL has closed beta on its Simple Fund 360 application and began releasing the new facility to a limited number of its existing clients at the start of August.

Specialist unified managed account (UMA) provider OneVue has enhanced its service offering for SMSFs.

Changes to the duties laws in Queensland are set to benefit SMSFs using strategies that include limited recourse borrowing arrangements (LRBA).

The use of a major bank as the lending institution for a limited recourse borrowing arrangement (LRBA) is no guarantee everything will be trouble free with the strategy, according to a specialist auditor servicing the space.

Specialist SMSF advisers must limit the number of clients they service who are already embedded in the retirement phase of their lives in order to maintain a successful practice, according to an industry expert.