News

Business News

SMSFs contribute to La Trobe milestone

Credit investment specialist La Trobe Financial has achieved the significant milestone of $2 billion in funds under management (FUM) in its Credit Fund, with SMSF investors playing a noteworthy part in the result.

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Practice Management

SMSF automation cost savings huge

Data feeds are expected to have the most significant impact on the SMSF sector, with automation and volume the keys to creating efficiencies within an SMSF administration business, according to an industry executive.

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Superannuation

Scoping a major SOA problem

A legal firm partner has identified scoping as one of the major elements contributing to erroneous statements of advice (SOA) issued by financial advisers.

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Strategy

Test strategy with accountant, administrator

Hands holding pieces of jigsaw puzzle.

SMSF advisers need to work in conjunction with accountants and fund administrators before implementing certain strategies for their clients to ensure successful execution in the post-super reform environment.

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Auditing

Auditors warned of asset valuation fiddling

SMSFs are expected to distort asset valuations for various reasons as a result of the 2016 budget super reforms, with auditors likely to face multiple risks when going through these funds.

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Practice Management

Advice will face customisation revolution

The future of the SMSF advice proposition will mimic the same shift experienced by other industries whereby services will be mass produced yet remain customisable for clients.

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Regulation

Adviser fall from FASEA highly detrimental

A tightrope walker with a body of water in the background.

The incoming education and professional standards framework for advisers, to be established by the Financial Adviser Standards and Ethics Authority (FASEA), could decrease adviser numbers in the SMSF sector, as well as turn experienced practitioners off from working in the sector altogether.

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Retirement

Retirees spend less than age pension: report

More than half of Australian retirees are spending less than the age pension each year, raising significant questions about current retirement policy and super fund strategies, new research by Milliman has found.

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Practice Management

Blockchain could underpin SMSFs

Blockchain could potentially act as the underpinning technology for SMSFs and superannuation funds more broadly to consolidate the sectors and reduce costs, according to an SMSF specialist. 

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Auditing

Automated audit tech due diligence urged

The era of unprecedented rapid technological changes will require SMSF auditors to check that any new automated auditing software and systems meet regulatory compliance and auditing standards.

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