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ASIC releases guidance on SMSF advice

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Julia Corderoy | 24 Jul 2015, 04:29 AM Agree 0
ASIC has released two information sheets to improve the quality of advice provided by advisers on SMSFs, as it focuses on SMSFs as a key surveillance area
  • Rocket Scientist | 24 Jul 2015, 11:45 AM Agree 0
    My understanding of SMSFs are that they are more about gaining control rather than reducing fees (though this could be a side effect), so how can ASIC say an SMSF with a starting balance of $200,000 or below is unlikely to be in the client’s best interests.

    I wish ASIC would just stick to making running shoes!
  • SMSF owner | 28 Aug 2015, 09:55 PM Agree 0
    ASIC is absolutely incompetent and shall not make generic statements and apply stupid thresholds to all situations. I started my SMSF having less than $100K and it is striving over the years. Why the hell should I listen to ASIC "specialists"?
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