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Louise Biti, director of Aged Care Steps, warns that self-managed superannuation funds (SMSFs) inadvertently increase the risk of detrimental outcomes.
In a recent ASF Audits podcast, The SMSF Experts with Shelly Banton, Ms Biti discussed key facets for protecting older people in an SMSF.
She highlighted that while beneficial, SMSFs can heighten and exacerbate elements of elder abuse. This is primarily because many financial decisions occur privately since SMSF trustees are also members and sole decision-makers.
To listen to the full podcast, click the link below.