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Fraud an issue for SMSF’s

Accountants and financial advisers who promote self-managed super funds (SMSF), may now have to inform clients of the loss of protection when a contributor  shifts from a regulated fund to an SMSF.

A recently released Parliamentary report into the collapse of Trio Capital has sheds some light on the pitfalls of managing a SMSF, naming fraud as a significant issue.

If possible a contributor should sign a form of acknowledgement, accepting this risks.  If you have any questions, contact your account who will discuss the matter further with you.