Majority of SMSF establishments based on bad advice: ASICBY KARREN VERGARA | THURSDAY, 6 NOV 2025 12:37PMNearly two thirds of SMSFs established under the recommendations of a financial adviser are unsuitable to their needs and put retirement savings at risk, an ASIC review reveals. Related News |
Editor's Choice
AMP, CFS and Vision Super get the Epic Retirement Tick
Three super funds, AMP Super, CFS FirstChoice and Vision Super, have joined the line-up of funds that have received the Epic Retirement Tick from Chant West and the Epic Retirement Institute.
Another C-suite member leaves Rest
The super fund has seen another C-suite executive depart this week, following the chief financial officer's exit in August.
Brookfield AM managing partner calls time
A Brookfield Asset Management managing partner, who at one point led the Australian private equity business, has wrapped up his 13-year tenure at the firm.
MLC Super cuts admin, investment fees
MLC Super will cut administration and investment fees for members from October 1, with 511,000 members set to benefit from lower costs across its superannuation options.
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
Cliff Man
HEAD OF PORTFOLIO MANAGEMENT
GLOBAL X ETFS AUSTRALIA
GLOBAL X ETFS AUSTRALIA
ETF Shares chief executive Cliff Man spent his career automating, building and challenging established systems. Now, he is betting that Australia's ETF market has room for something different. Vinny Vucago writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Hallelujah!
I continuously see people with a Self Managed Super Fund that is totally unsuitable for them. Most notably they have been put in property developments that are not worth what they paid for them years later. PLUS they are often classed as a wholesale investor when they don't know their elbow from their armpit. Critically, going into Retirement with an SMSF ignores the tendency for diminished capacity.
"also lose important protections, including the benefits of prudential regulation and the ability to make a complaint about the fund or its trustees to AFCA" - worrisome.