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ASIC dumps guidance that SMSFs may need $500,000 to be competitive

Lucy Dean
Lucy DeanWealth reporter
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Regulators have abandoned guidance that self-managed superannuation funds need at least $500,000 to be competitive, freeing up financial advisers to recommend SMFS be established at much lower balances.

The Australian Securities and Investments Commission removed guidance on Thursday which previously said most SMSFs need to have at least $500,000 in order to compete with regular superannuation funds.

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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
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    Original URL: https://www.afr.com/wealth/superannuation/asic-dumps-500-000-smsf-threshold-20221209-p5c516