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SMSF investment strategies on AFCA radar
The Australian Financial Complaints Authority (AFCA) is taking an active interest in the issue of SMSF investment strategy quality, which could be a potential area of liability for advisers in 2020 following the ATO’s letter campaign to 17,000 SMSF trustees last year.
Speaking in a recent webinar, Smarter SMSF chief executive Aaron Dunn said in discussion with AFCA at the FPA Congress last November, the ombudsman service had revealed a number of active cases involving non-compliant investment strategies within SMSFs.
Read more at SMSF Adviser.
