Many Self Managed Super Funds (SMSF) trustees may not have received “best interest” advice with regards to their fund. This despite the considerable growth in the SMSF sector, which is driven, according to our research, by holders wanting to avoid retail fund fees, and greater control of their finances.
Around 90% of financial advice on setting up a self-managed super fund (SMSF) did not comply with relevant laws, a review by the Australian Securities and Investments Commission (ASIC) has found.
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