ASIC has just released Tips for giving self-managed superannuation fund advice in Information Sheet 274. It’s targeted at Australian financial services licensees and their representatives who provide personal advice to retail clients. It is far reaching and needs to be carefully considered by all who advise on SMSFs.

It establishes a set of minimum guidelines and principles which need to be properly covered. No doubt dealer groups will provide their own response but I know that many dealer groups have inadequate documentation in this regard so I will be constructing a comprehensive documentation tool to assist advisers to comply. Some dealer groups may adopt it or allow their advisers to use it as part of their SOA. Others may be interested in its content or ignore it entirely. That’s all fine.

We provide B2B services to SMSF advisers so feel obligated to provide additional tools to complement our currently available investment strategy document creator, SMSF Guide, SMSF/APRA fund comparator, opportunities analysis and technical support.

As part of this project, I will be analysing as many SMSF related SOAs as possible so your assistance in providing me with suitably redacted examples, emailed to dbusoli@smsfalliance.com.au, would be much appreciated. Should you wish to do so I will keep you apprised of the project’s progress and invite your input.

I hope you decide to become involved.