News

ASIC, Financial Planning

ASIC bans adviser over risky advice

ASIC banned Adelaide adviser

An Adelaide-based adviser has been banned for failing to act in his clients’ best interests, including giving advice that ignored the SMSF investment strategy.

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Pensions

Pension commutation TBA impact overlooked

Pension commutation

Advisers may not be recognising the advantages of using partial commutations for drawdowns above the minimum pension, a technical specialist has said.

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Financial Planning

Number of self-licensed advisers on the rise

self-licensed financial advisers

The number of financial planners and advisers has held steady and an increasing number of them are choosing to become self-licensed, a recent study has found.

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Superannuation

Control still key driver for SMSFs

SMSF investment control

Control over investments remains the key driver for setting up an SMSF, with concerns over property being overblown, according to new research.

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Auditing

SMSFs misled regarding 2018 audits

SMSF 2018 audits

The ATO has confirmed a large proportion of the funds connected to SAN misuse for the 2018 financial year did not receive an audit despite SMSF annual returns being lodged.

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Superannuation

SG policy needs perspective

super guarantee policy

A flexible and common-sense approach towards determining the super guarantee has been called for by a specialist actuarial firm.

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ETFs

VanEck expands ETF range

VanEck ETF

VanEck will launch four ETFs in the coming weeks, following strong growth in the company’s assets under management over the past year.

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Investments

Challenger releases RBA-linked annuity

Challenger annuity

Challenger has expanded its annuity range with the release of a guaranteed floating-rate lifetime annuity linked to the Reserve Bank of Australia cash rate.

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Financial Planning

SMSF advice falls as need grows

SMSF financial advice

The number of SMSFs using a financial adviser has dropped relative to the size of the sector, even as the scope and intensity of advice needs have increased.

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Investments

Trustees stick solid through COVID-19 hit

SMSF trustees investments COVID-19

SMSF trustees in the main have left the investment mix of portfolios untouched in the wake of the market disruption resulting from the COVID-19 pandemic, the latest sector research has shown.

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