Editor's Choice
The 'blind spot' costing advisers nearly $10bn: Research
Research from Elemnta indicates financial advisers do not realise they are expending nearly twice as much effort on non-advised operations, highlighting a perception gap and challenges related to data collection and access, which cost 6000 practices about $9.36 billion in "destroyed enterprise value".
Canadian pension giant takes 20% stake in La Trobe
Canadian public pension fund OMERS has taken a minority stake of nearly 20% in La Trobe Financial from Brookfield.
ASIC issues another stop order for private credit fund
ASIC has issued an interim stop order on the Murdoch Clarke Mortgage Fund, issued by Murdoch Clarke Mortgage Management, prohibiting it from offering, issuing, selling or transferring interests in the fund.
Inheritors struggle to act on financial advice: Survey
Australia's wealthy inheritors are making major financial decisions before they feel ready, with new research highlighting a gap between receiving professional advice and having the confidence to act on it.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
PWC by way of their comments have demonstrated their total lack of professional understanding of SMSFs. I imagine PWC receives sizeable audit remuneration from APRA regulated funds so one could be forgiven for thinking that their comments have a hidden agenda. Who in PWC actually made these comments to the FSI??
As far as I am aware the ATO is responsible for monitoring SMSF activity - not ASIC. As an Auditor of many SMSF accounts, there already is a requirement for an Investment Strategy - what value in ASIC monitoring a document when they dont really know the risk profile and long term expectations of fund members is? Would PwC like to comment on how these funds who were over exposed to, cash and term deposits fared in the recent GFC compared to the "industry and public offer Funds" managed by investment experts?? I guess as an auditor of large Financial Institutions who are a large part of the current superannution industry, that PwC would ike to see those institutions grow at the expense of an SMSF industry. Haven't we already got too much interference in our lives without more regulators wasting time and resources - after all the money belongs to the member/trustees of these Funds to do with as they see fit.
I claim that many SMSF who invested in cash throughout the GFC have performed better than number of professionally managed funds during the last 5 years. Retirees with large balances over $500,000 acted prudently by not to risking all of their funds in stock or real estate markets. Those under such levels can and do knowing well that they can make up the difference from the Centrelink if they lose. To PwC, prudent investment clearly means risking funds in stock markets alone w/o consideration to their fund size, risk profiles of individuals and stage of retirement.