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.

The Australian Taxation Office (ATO) needs to provide further clarification about its decision to axe the use of cross-insurance within SMSFs as a number of issues have resulted from the move.

Emerging infrastructure developments were capturing the attention of SMSF investors, with allocations to the asset class primarily being driven by advisers, according to AMP.

Financial advisers and accountants must acknowledge the scope of their fiduciary relationships, particularly where their duties may exist beyond the direct client to other family members, an expert SMSF lawyer has said.

Most people who have established an SMSF were not motivated by dissatisfaction with the returns generated by a retail or industry super fund, but by a greater level of control and choice over investments, new research has found.