Articles by Malavika Santhebennur

Education, Financial Planning

FASEA rules out consultation before legislation

The Financial Adviser Standards and Ethics Authority (FASEA) has indicated there will be little to no consultation between now and when legislation is introduced for the new professional standards for financial advisers and accountants next year, according to an industry body.

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ATO, Property

Advisers should fend off property spruikers

Property spruikers are targeting the retirement savings of SMSF trustees struggling to enter the housing market by promoting the purchase of property through an SMSF and advisers must act to discourage this behaviour, according to the ATO.

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Superannuation

PC report courageous, surprising: SMSF Association

SMSF Association chair Dr Deborah Ralston has labelled the Productivity Commission’s (PC) findings into SMSFs as surprising, given it acknowledged the difficulties in comparing the performance of Australian Prudential Regulation Authority (APRA)-regulated super funds and SMSFs.

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ASIC, Auditing

ASIC disqualifies SMSF auditor

The corporate regulator has disqualified a Queensland SMSF auditor from being an approved auditor for breaching independence requirements.

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Investments

SMSF interest in impact investing unclear

Impacting investing may have traditionally been the domain of institutional investors, but it is retail investors and individuals who are now driving growth, according to asset manager State Street Global Advisors (SSGA).

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Compliance, Investments

Investment strategy more than compliance

SMSF trustees need to be more proactive in ensuring they have a clearly defined investment strategy in their portfolios rather than treating it as just a compliance document, according to a wealth advisory firm.

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Investments, Retirement

Hub24 platform to include Challenger annuities

Hub24 and Challenger have announced they are working together to provide Challenger annuities on the Hub24 platform for advisers and clients.

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ATO, Regulation, Superannuation

SMSFs should share SuperStream costs

Extending the operation of SuperStream to SMSF rollovers will inflate costs for Australian Prudential Regulation Authority (APRA)-regulated funds, with little or no cost burden falling on the SMSF sector, according to an industry body.

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Regulation

PC findings will feed negative SMSF stereotypes

The Productivity Commission’s finding that SMSFs with balances below $1 million are not cost-effective and underperform has fuelled misinformation about SMSFs, potentially increasing anxiety among SMSF members and deterring possible new fund owners, according to an SMSF expert.

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Retirement

Behaviour the retiree spending driver

Retirement specialist Milliman has released new research suggesting falling retirement spending is the result of behavioural factors rather than declining incomes.

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