ASIC’s Report 575 on improving the quality of advice and member experiences focused on whether advice providers are complying with the law when providing personal advice to retail clients to set up an SMSF. The findings from the review of SMSF advice found that the advice process, particularly around establishment of an SMSF could be improved.
This document addresses the following:
- Is an SMSF the right fit?
- Switching from an APRA-regulated fund to an SMSF
- Record Keeping and SOAs