News : SMSF

BDBNs, SMSF

Digital BDBN approval very risky

Digital BDBN

Executing a binding death benefit nomination is legally allowable, but exposes SMSF trustees to a significantly higher level of risk.

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Platforms, SMSF, Superannuation

Super platform to launch adviser portal

Investment platform

Investment platform Superhero will launch a new portal allowing advisers to open superannuation and SMSF trading accounts for clients.

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Administration, Auditing, Investments, SMSF, Strategy

Brief investment strategy optimal

SMSF investment strategy

Overly detailed SMSF investment strategies written over multiple pages will not improve their chances of being compliant with the law.

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Administration, SMSF

Procedural ease not most prudent

appointment removal SMSF trustees

Convenience cannot be the main factor determining the procedure individuals use when appointing or removing SMSF trustees.

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Administration, Platforms, SMSF

SuperMate pricing adjusted

SuperMate pricing

Users of SMSF administration platform SuperMate will now have the flexibility of a new pricing tier more appropriate to their requirements.

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ASIC, SMSF

Melbourne adviser cops permanent ban

adviser banned SMSFs

ASIC has banned a Melbourne-based financial adviser for misappropriating over $1.6 million in client superannuation savings rolled over to SMSFs.

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Investments, SMSF, Superannuation

SMSF performance very strong

SMSF investment returns

The latest sector research has confirmed SMSF investment returns were comparable to those of APRA funds for the 2020 and 2021 financial years.

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Residential Property, SMSF

Care needed with online valuations

Residential property valuations

A degree of caution should be exercised when using online services to determine the value of a residential property owned by an SMSF.

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ASIC, SMSF

Ex-adviser jailed for six years

SMSF fraud

A former Sunshine Coast financial adviser has been sentenced to six years’ jail for fraud after withdrawing funds from his SMSF clients’ accounts for personal use.

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Regulation, SMSF

Knowledge of SIS sections critical

SIS act

Knowing the specific differences between parts of the SIS Act that may seem the same is critical to allow advisers to find optimal client solutions.

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