1:20PMSunday Apr 20th, 2014

Advisers Need to Know SMSFs Better

Money47The Property Investment Professionals (PIPA) have found that a large percentage of self managed super fund (SMSF) advice is ‘adequate’.

However, they believe there is still a need for more specialised property investment advice when it comes to recommendations being made.

Money Management reported that the Australian Securities and Investments Commission (ASIC) has made note that many Australian investors are not given efficient advice, and that their SMSF is suffering because of it.

With SMSFs becoming more popular, there is a strong need for training in the investment industry.

PIPA chairman Ben Kingsley stated that if a financial planner believes they are not equipped with enough knowledge to successfully advise a client, they should refer the client to a specialist or seek more formal training.

Action will be taken against any adviser seen to be giving ‘poor’ advice or operating without a license.

Real property is a complex issue and should not be entered into without the advice of an expert.

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