Investment Strategy Annual Review Now Compulsory

Investment Strategy Annual Review Now Compulsory

Investment Strategy Annual Review Now Compulsory

Trustees of self-managed superannuation funds must review their investment strategies regularly, following a recent change to super regulations. Trustees have always been required to write an investment plan but now they must take a fresh look at it each year to make sure the strategy continues to reflect the purpose and circumstances of the fund and its members.

The director of education and professional standards at SPAA, Graeme Colley, says the regulation took effect from July 1, even though the ATO only announced the changes in August. Colley says that as a result of the timing of the announcement, many SMSF trustees are not yet aware of their new responsibilities. As reported by John Kavanagh in The Sydney Morning Herald, page 14

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Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
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