Sophisticated investors: swell, rip or wipeout?

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  • Investment standards

Technical Summit 2022

The SMSF Association has seen an increase in member queries on the application of the wholesale and sophisticated investor rules in an SMSF context. The increasing compliance obligations placed on financial advisers advising retail clients appears to be a key driver.
 
Is this really a solution to providing efficient and cost-effective financial advice to clients? Does the use of an accountant’s certificate reduce the risk for advisers? What are the risks and concerns for accountants? Is it in the best interests of your clients? What are your professional and ethical obligations?

Sophisticated investors: swell, rip or wipeout?

Technical Paper
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The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association