Former Australian Minister for Superannuation Nick Sherry has become the latest high profile figure to raise concerns about property “sharks” preying on Australian’s superannuation savings. Speaking at the CPA’s annual self-managed superannuation funds (SMSF) conference in Sydney yesterday, the former Labor politician said it was a primary concern for the industry and a threat to confidence. “The property spruikers are out and about. Everything I hear anecdotally tells me there are a lot of bad practitioners,” he said. The former Labor politician’s comments echo those of Australian Securities and Investments Commission (ASIC) commissioner Peter Kell. Writes Mark Smith at Financial Standard READ MORE
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