Loans to self-managed superannuation funds (SMSF’s) are financial products. In order to provide advice on these products, a person is required to be either an AFS Licensee or an Authorised Representative of an AFS licensee.
As SMSF lending is a specialised field, if you are going to provide credit assistance in relation to this type of lending, please ensure that you take your instructions only from your client’s Financial Planner. The Planner should provide you with the specifications for the loan sought.
Best practice is to never take your instructions from the client, as they may not fully understand what they need or the financial implications. Never enter discussions with the client about how they might go about making a property purchase through an SMSF, whether it is an existing SMSF lend or a proposed one.
If you need further guidance and support, please contact the Compliance Support team by accessing the Helpdesk on Mercury or by email at firstname.lastname@example.org.