Advisory and funds management business Aura Group has purchased a majority stake in Accountable Financial Group (AFG), an independent provider of financial advice, training, and product and service solutions to accountants.

In its tax white paper submission, the SMSF Owners’ Alliance (SMSFOA) has thrown its support behind the adoption of a taxed-exempt-exempt (TEE) taxation system for superannuation, recommended by Ken Henry in his “Australia’s Future Tax System” report in 2010.

The solid returns delivered by alternative investments are one key reason for growing interest and confidence in the asset class, particularly from the SMSF sector.

Licensing for Accountants has launched a suite of interactive tools to assist practitioners wanting to operate under an Australian financial services licence with their educational requirements.

SMSF advisers and trustees must be guided by the most recent fund trust deed available when determining the validity of a binding death benefit nomination (BDBN) after a deed amendment, according to a specialist lawyer.

SMSF trustees found investment selection was the hardest aspect of running their own fund, despite the desire for investment control, according to AMP Capital research.

More advisers, particularly those servicing SMSFs, were looking at exchange-traded fund (ETF) model portfolios as a means to take risk off the table and ensure portfolios were as robust as possible, according to an ETF executive.

CPA Australia has admitted the ability to provide its members with a licensing solution when the accountants’ exemption is scrapped was a driver in the move to establish CPA Australia Advice.

CPA Australia has established a new subsidiary organisation that will provide financial advice to the general Australian public.