The Australian Financial Complaints Authority (AFCA) has reaffirmed a critical clarification for SMSF trustees and financial advisers: to be classified as a wholesale investor, a self-managed super fund must hold more than $10 million in assets. This threshold is non-negotiable and excludes personal wealth held outside of the SMSF. In a recent joint statement, AFCA’s senior ombudsmen emphasized that under section 761G(6) of the Corporations Act, any financial advice relating…  Read more