ASIC

ASIC stands for the Australian Securities and Investments Commission, who are the company and financial services regulator and consumer protection regulator.

Set out below are SuperGuide articles explaining ASIC.

Still wanted: all independent advisers in Australia

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Nearly 5 years ago, SuperGuide embarked on a long and arduous mission. We decided that we wanted to find every independent financial adviser in Australia, and to give these advisers an opportunity to let SuperGuide readers know that they exist. For the past 4 years or so we have published a list … [Read more...]

How many financial advisers operate in Australia?

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Q: I’m looking for information on an approximate breakdown of how many Australian financial advisers are part of a dealer group, and how many are operating by themselves as individual businesses. I’ve asked ASIC, FAA and the FPA and I can’t get an answer. Looking through the ABS stats it also … [Read more...]

Investment performance: We’re the best super fund. No, we’re the best…

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Note: Every few months or so, we update this article with the latest performance data on superannuation funds (and pension funds) issued by SuperRatings, SelectingSuper, ChantWest and the Australian Prudential Regulation Authority (APRA). This article contains the latest data for investment … [Read more...]

SMSF whack! Another 11% increase in ATO supervisory levy

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For the 2011/2012 year, the ATO supervisory levy for self-managed super funds has increased from $180 to $200. The levy hike is an 11% increase from the previous financial year, and a massive 400% increase from the ATO levy that was payable 5 years ago. In the 2012 Federal budget, hidden in the … [Read more...]

Attention over-50s: Investment scams – six dangers when getting financial advice

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Note: This article reports that the most unlikely people can be victims of investment scams. SuperGuide suggests that it is not only the scams you have to watch out for – being mis-sold legitimate but high-risk investments can be just as probable, and a lot more costly as the failed investments in … [Read more...]

Super for beginners, part 20: Comparing your super fund’s performance

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Q: The investment return on my super fund account doesn’t seem to compare with the investment returns that I read about in the newspapers. Are the newspapers wrong, or am I in a rubbish super fund?   A: Every month or two (or more recently, every week it seems) the media reports the … [Read more...]

Super for beginners, Part 1: I’m new to Australia – help me!

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Q:  I'm new to Australia and I have no idea where to start with my super in order to have the best outcome 40 years from now. So far, I have had my super spread between 3 industry super funds, as organised by temp employment agencies. I know this is not the way to continue, but I am not sure who to … [Read more...]

Federal Budget May 2012: At a super glance

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On 8 May 2012, Federal Treasurer Mr Wayne Swan released the 2012/2013 Federal Budget promising to deliver a $1.5 billion surplus. Mr Swan announced the following superannuation-related changes: Super contributions surcharge for high-income earners. Doubling of the contributions tax to 30% … [Read more...]

Oh dear! Only 3% of financial plans are ‘good’

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In what must be one of the more embarrassing (and unacceptable) situations for the financial planning industry, a study was released in late March 2012 that found only 3% of financial plans were considered ‘good’. Oh dear! Not great timing, especially since the financial planning industry is … [Read more...]

Moving targets: Come on, how much super do I really need?

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This article is updated every few months with the latest lifestyle/income data. The most recent data was released on 15 November 2011 (for lifestyle costs as at September 2011). You’re thinking about your retirement and worried about whether you’ll have enough money to live the life you want, … [Read more...]