ASIC flags concerns with inappropriate SMSF set-up
ASIC has expressed concern that a growing number of investors are setting up SMSFs when they are inappropriate for their circumstances, with the volume of assets in self-managed funds now outweighing both industry and retail funds in the Australian super system.
In a statement released on Friday, ASIC commissioner Danielle Press said many consumers may be focusing too heavily on the benefits rather than the risks of running their own super fund.
Read more at SMSF Adviser.
