REP 337 SMSFs: Improving the quality of advice given to investors
Released 18 April 2013.
In 2012, ASIC set up an SMSF taskforce to look at risks in the SMSF sector. ASIC reviewed the quality of a sample of self-managed superannuation fund (SMSF) advice given to investors. While we found that the majority of advice provided was adequate, there was also room for improvement in aspects of the advice-giving process.
This report summarises the findings from our SMSF file reviews and identifies a number of practical tips that advice providers can use to improve the quality of SMSF advice they provide to investors.
This report also provides an update on some of the other work ASIC is currently undertaking in the SMSF sector.