News

Financial Planning

Specialist oversight ignores FOFA reforms

specialist advisers FOFA

Not recognising specialist advisers ignores the intended outcomes of the FOFA reforms and shows the poor decision-making of FASEA.

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ASIC, Financial Planning

ASIC outlines plans to assist advisers

ASIC assist advisers

The chair of ASIC has reaffirmed the regulator’s focus on reducing red tape related to financial advice and outlined some new initiatives to assist practitioners.

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ATO

First return compliance alarming

SMSF annual return ATO

The failure of trustees to lodge their SMSF’s first annual return is continuing to be a problematic compliance area for the ATO.

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Pensions

Pension commutation details still lacking

Pension commutation

The absence of details regarding the commutation of market-linked pensions 10 months after changes were announced is creating uncertainty for retirees.

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Education

Specialist adviser pathways expanded

Specialist SMSF adviser

The SMSF Association has partnered with two major educational institutions to expand the pathways into its SMSF Specialist Advisor program.

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ASIC

Jailed SMSF adviser permanently banned

jailed SMSF adviser banned

A former SMSF adviser, sentenced to six years’ jail, has also been permanently banned from providing financial services.

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Investments

Carbon emissions milestone for La Trobe

La Trobe Financial carbon

Specialist fund manager La Trobe Financial has achieved an ESG milestone after undertaking an assessment of its own environmental impact.

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Retirement, Superannuation

SMSFs mainly viewed as nest egg

SMSF retirement nest-egg

SMSF members have only started to reconsider superannuation as a retirement funding tool, with many still viewing it as an untouchable nest egg.

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Accounting, Financial Planning

Legs and regs challenge worsens

regulation SMSF accountants

Legislation and regulations regarding the provision of financial advice are proving to be an increasing challenge for accountants servicing SMSFs.

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Financial Planning, Retirement

Advice for fund members not addressed

retirement superannuation advice

Super fund members have not been given adequate advice on how to spend their retirement incomes despite being told for years how to save for it.

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