Recently ASIC released a set of updated guidelines on the provision of SMSF advice from financial advisers.
Previously, ASIC guidelines included a reference to a $500,000 minimum threshold before setting up an SMSF. The updated guidelines have since removed this recommendation. This updated guidance was welcomed by the SMSF industry and groups such as the SMSF association and will allow AFSL licensees greater flexibility when providing clients personal advice about SMSF’s.
For further information on the changes to guidance from ASIC please refer to the link here.
ASIC has further stressed the importance of advisers having specialized SMSF knowledge to ensure compliance with growing SMSF regulations.
Superannuation Warehouse are specialized SMSF accountants who do not provide financial advice.