News

Compliance

Licensees cutting corners with BDBNs

The Australian Securities and Investments Commission (ASIC) has put the financial advice sector on notice after finding issues with advisers failing to correctly witness binding death benefit nomination (BDBN) forms for super benefits.

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Business News

SMSF returns reflect adviser efforts

The SMSF sector’s returns matching Australian Prudential Regulation Authority (APRA)-regulated fund returns during 2015/16 demonstrates the hard work of SMSF specialists who advise many members about their investments, the SMSF Association has said.

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Superannuation

Career breaks put big dent in women’s super

Women are taking a $160,000 hit to their retirement savings as a result of taking career breaks, potentially exacerbated by the fact they do not seek financial advice, a REST survey has revealed.

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Estate Planning

Take-up of investment bonds increases

Investment bonds are proving to be a popular alternative estate planning strategy, particularly among older SMSF trustees with super balances greater than the $1.6 million transfer balance cap, according to Australian Executor Trustees (AET).

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Business News

Hub24 unveils super tracker, ROA solution

Hub24 has announced enhancements to its platform, including a superannuation contributions tracker and an integrated records of advice (ROA) solution for advisers.

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ATO

SMSFs achieve positive return on assets

Closed hand against blackboard.

The latest statistics from the ATO have revealed the SMSF sector is continuing to grow, with positive returns on assets, and increasing fund and member numbers.

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Strategy

Pension strategy can optimise falling markets

Innovative pension strategies can allow SMSF trustees to use the super reform regulations to benefit from falling markets, a superannuation specialist has said.

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Accounting

Accounting app captures business insights

Accountants, financial advisers and business owners have a new cloud-based application that will give them unrivalled insight into company financial performance, allowing smarter scenario planning and business analysis.

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Business News

Verante FP unveils knowledge centre

Verante Financial Planning has boosted its education efforts through its Financial Knowledge Centre, which includes a comprehensive module on SMSFs.

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Regulation

LRBA amendments poorly targeted

The SMSF Association has criticised a federal government proposal to make amendments to legislation in relation to limited recourse borrowing arrangements (LRBA).

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