Check to avoid getting dodgy SMSF advice

In the wake of recent DIY fund rip offs, here’s what to research before you pick an adviser or follow investment advice. Financial Review, Jan 18, 2021 Trust. It’s what all relationships are based on. Trust is crucial if you need help to manage your self-managed super fund, but how do you know if an adviser is trustworthy? Late in …

Why SMSF trustees need to remain alert in 2021

On the radar are auditing changes, higher tax-free thresholds, increased contribution caps and an ATO crackdown on investment strategies. Financial Review, Dec 29, 2020 – 12.00am While thankfully there has not been a lot of legislative change relating to self-managed super funds lately, there will still be much to occupy trustees’ minds over the next 12 months. Auditing changes (whether …

Expanding SMSF could lead to family fallout: James Gerrard

Be careful what you wish for if expanding Self Managed Superannuation Funds from four to six members.The Weekend Australian,  November 13, 2020 Changes are afoot to increase the maximum number of self-managed super fund members from four to six. The Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 was introduced into parliament in September and successfully navigated its way …

How a six-member SMSF could benefit you

Small businesses and families with pooled assets could find extra flexibility as well as lower fees by taking advantage of the relaxation of the size limit. Financial Review, Oct 15, 2020 The federal government has introduced legislation to Parliament to increase the limit on the number of members in a self-managed super fund from four to six. Although it’s unlikely …

Property back in the picture for SMSFs

Property investments have once again taken a leading role among Australia’s self directed investors.The Australian,  October 14, 2020 Property investments have once again taken a leading role among Australia’s self directed investors as a brace of reports released this week shows self managed superannuation funds holding more assets in bricks and mortar or planning to do so in the near …

What the budget could mean for your SMSF

Just as all super members must take action with poor performers, DIY funds need to challenge advisers who give poor advice. Financial Review, Oct 9, 2020 Should promoters of self-managed superannuation funds that provide inappropriate advice resulting in clients suffering significant under-performance be banned from taking on new clients until they lift their game? While no one has actually suggested …

Why these two factors are crucial in SMSFs

Paying excessive fees will harm your retirement balance, as will failing to take a portfolio approach when it comes to income. Financial Review, Oct 6, 2020 What does it cost to run a self-managed superannuation fund? In October 2019, the Australian Securities and Investments Commission released a fact sheet for SMSFs noting that it cost on average $13,900 a year …

Selfie fail: Why a SMSF is probably not right for you

Bruce Brammall, The West Australian, 28 September 2020 If you’re thinking you want to decide what shares your super invests in, many superannuation platforms will allow you that control. If it’s about performance, other funds or investment options are available. I love self-managed super funds. But, without doubt, too many Australians dive into this pool and crack their skulls on …

SMSFs cheaper to run than you’ve been led to believe

The average operating costs are now put at $6152, against $14,879.The Weekend Australian, September 4, 2020 For the serious, active investor it is hard to beat a self-managed super fund, but this year events conspired against the self-directed investor: yes, markets have been challenging, but an outstanding problem has been a regulator that has made the entire business of running …

ASIC sues self-managed super provider Dixon Advisory

Dixon Advisory is a leading self-managed super provider The Australian,  September 4, 2020 The Australian Securities and Investments Commission has launched legal action against the nation’s fourth largest self-managed super fund provider for allegedly failing to act in the best interest of its clients. ASIC said civil penalty proceedings had been filed in the Federal Court against Dixon Advisory and …