A lot has happened recently in the financial advice sector and it has resulted in SMSF trustees showing reluctance in seeking professional advice. Scandals atop scandals and this is what happens! The mind-space of SMSF trustees is laden with the worst of fears and they know that the adviser on the other side might be a guy not interested at all in their wellness and just out to earn a commission by duping them. Certainly not the best frame of mind when you are seeking professional investment advice.
Super News
Age-based Management of Superannuation Fund
With all the great (and pleasant) noise being made about Superannuation efforts and their considerable link with post-retirement living, I thought it might help to chart a Super roadmap for people of all ages. I mean, a 30-year old won’t think about his Superannuation fund as a 50-year old or a 70-year old. For the 30-something guy, retirement is a distant possibility not looming anywhere close to the horizon yet. For the 50-something person, on the other hand, it has become part of the to-be-embraced fate and for the 70-something guy, well, he is there and living it.
Perils of DIY Superannuation Investment
Can’t say choosing your own portfolio is not a luring proposition, but can Super investors understand all the ramifications of such a position? I know, every now and then, we have this real urge to play the fund managers. Choosing our assets, diversifying as we deem fit, swapping properties for bonds and ETFs for global equities, but can all these not have dangerous consequences at times?
Preparing Your SMSF Clients for the SuperStream
By popular consensus, the changes made to the management of Superannuation contributions will have a positive impact on the SMSF industry and it is now for the SMSF professionals to update their trustees on the guidelines of the new electronic contribution regime, SuperStream.
SMSF Investors Eyeing Global Equity Market
Cash allocations of SMSFs have reached record low proportions, reports Multiport SMSF Investment Patterns Survey. The cash holdings, reportedly, are being curtailed in favour of seeking the overseas market; higher returns in international equities being the major lure. Tim McArthur reports for the website The Motley Fool.
Federal Court Fines SMSF Trustees $50,000
In the event of breaching the SIS Act pertaining to loan to members, SMSF trustees can face exorbitant fines going up to $220,000. One such fine of $50,000 was handed down by the Federal court to a couple who were corporate trustees of a fund.
