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
Treasury responds to Debelle's review into the AOFM
Treasury has responded to the Guy Debelle-led review into the Australian Office of Financial Management (AOFM), agreeing to all six recommendations.
Bravura ups guidance, reports earnings increase
Bravura Solutions informed investors cost discipline will protect its full year earnings result after a client migrated to a Business Process Outsourcing (BPO) early in the year.
MaxCap hires from Vanguard, AustralianSuper
MaxCap has welcomed two senior directors, including a portfolio manager from Australia's largest super fund, reporting to the recently named chief executive Kylie Robb.
Zenith snags mandate from Granite Bay
Granite Bay Private Wealth has selected Zenith Investment Partners to support their investment governance and due diligence.
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
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
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.