SMSF advisers recommending reserving strategies for their clients need to be aware the reserves in question must be set out for a specific purpose, according to an industry expert.

The SMSF Association has launched an accreditation program to provide independent validation of fundamental sector knowledge and practical skills.

The old maxim that “knowledge is king” has never been truer than when it comes to SMSFs. Ask any accountant or financial planner who has worked in the SMSF industry and they’ll know from first-hand experience the laws are tough, complex and can easily turn into a disaster for the unerring SMSF trustee in breach of those laws.

Trustees categorised as coach seekers and outsourcers wanted help with their SMSFs and were open to an advice relationship, according to the latest report from nabtrade and the SMSF Association.

A leading SMSF law firm has criticised the Australian Securities and Investments Commission’s (ASIC) recommendation that an SMSF should in most circumstances not be established unless superannuation benefits of $200,000 are in existence.

The looming 1 July 2016 deadline has sparked a jump in the number of accountants looking to become licensed, with one specialist financial services dealer group already doubling its courses due to the spike in demand.

CPA Australia Advice is expected to release the next level of detail for its licence around mid-August, breaking down the options it will make available to members and the cost.

Class has revealed the preliminary work for its initial public offering (IPO) was progressing well, following the recent completion of new board appointments in preparation to list towards the end of the year.

The Australian Securities and Investments Commission (ASIC) has released two information sheets detailing areas it considers should be covered if advice given to SMSF clients is to be recognised as quality financial advice.