News

Accounting

HNW investor demand for advice to keep growing

Investments to change the world

Investors with more than $1 million will continue to seek professional advice despite the negative press surrounding the sector, according to new research.

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Pensions, Retirement

Actuaries link age to optimal pension drawdown

pension drawdown model

The optimal pension drawdown figure is closely aligned to the age of a retiree and a group of actuaries has created a simple model to calculate this figure.

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Accounting

AFCA launches complaint tracking tool

AFCA financial complaints tool

A new online tool gives consumers the ability to track the progress and history of financial complaints lodged with the Australian Financial Complaints Authority.

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Investments, Retirement

Capture spread critical for retirement investing

Sequencing risk retirees

Sequencing risk in retirement can be more effectively controlled through investments with managers with greater downside protection without necessarily having the best upside returns, according to an international wealth manager.

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Accounting

Advisers key to managing incapacity

incapacity SMSF trustees

Risks associated with the deteriorating mental capacity of SMSF trustees can be mitigated by a good client-adviser relationship, according to the director of a legal firm.

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Administration, ATO

Annual returns non-lodgement puts $45b at risk

SMSF annual returns

The non-lodgement of SMSF annual returns in 2019 has put in excess of $45 billion in superannuation assets at risk, according to the latest ATO data.

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Pensions

Errors common in actuarial certificate process

Errors common in actuarial certificate process

Trustees should be aware of the potential stumbling blocks involved with completing the actuarial certificate application process as part of working out their fund’s ECPI, an actuarial services provider says.

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Financial Planning, Retirement

Retirees should look beyond cash

Retirees should look beyond cash investment income

Retirees with declining income from cash investments should be encouraged to move from traditional models in that space and look to other high-returning liquid assets.

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Accounting, ASIC

ASIC rejects return of accountants’ exemption

ASIC accountants’ exemption

ASIC has not backed the return of the accountants’ exemption, noting the quality of advice from accountants is not higher than that of financial planners.

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Administration, Regulation

Unsuitable trustees should be replaced

SMSF members trustee replaced

Not all SMSF members should be trustees and can be replaced by their legal representative using an enduring power of attorney.

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