ASIC offers to help SMSF investment advisers

ASIC has provided two information packs designed to better the advice given by advisers on investing in self-managed superannuation funds.

The downloadable documents stress ASIC's view that an SMSF with a starting balance of $200,000 or below is unlikely to be client-centric and more likely be investigated by ASIC.

ASIC Deputy Chairman Peter Kell said it is important that consumers receive good quality advice that will assist them in making informed decisions about their retirement savings.

'ASIC wants to ensure that only those investors for whom an SMSF is suitable are advised to establish an SMSF and that our expectations around the standards of advice are clear.

'SMSFs are a key priority for ASIC and we will continue to target inappropriate advice about SMSFs in our surveillance work,' Mr Kell said.

ASICs information packs can be downloaded here.