Andrew StarkeJune 13, 20123.15pm
3 comments on “POLL RESULT: Are you advising clients to consider Asian equities?”
Join the discussion
Uncategorized
Pair of Shield-connected advisers banned by ASIC
A pair of advisers from MWL Financial Services have been banned by ASIC for giving inappropriate advice in connection to the failed Shield Master Fund. Despite being found to have not acted in clients’ best interests and giving misleading statements, the bans will only cover periods of four and eight years.
Chris DastoorJuly 9, 2025
Opportunties will arise as Accountants become aware of the documentation and time involved in doing something as an add on. Many will eventually part with FPs to make it easier to manage and servcie the client properly. Hard to be a master of all competentcies.
I would say that accountants who have been involved with SMSFs would understand the regulations as they have been dealing with clients for many years. More years than financial planners as the accounting industry is a lot older. Because the fin planners are monitored and regulated very heavily the accounting bodies are now being subject to the same scrutiny. In the end we will be writing SOAs for everything we do and adhering to regulations which at the end of the day may not assist the client. All this gets back to the integrity, ethics & trust of the person giving the advice and that is where the client should be.
A great result for the people that matter, our clients, we will have more accountants who actually understand the regulations and the “how to”, of what our clients need to do on a daily basis to manage their SMSF. Also this needs to have additional education requirements for the clients/trustees, but driven by SMSF Specalist Advisers not a government body.