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We had a financial planner visit our place of employment a couple of years ago. He said that one of the “plusses” of going with e.g. an established industry fund, is that should something go wrong, there is a level of protection as a result of government legislation, so you should not lose everything...
SMSF’s were not “protected” in the same way as it was assumed that anyone operating an SMSF should have enough investment planning knowledge to manage the risk themselves.
This was a few years ago and I don’t remember what the level of protection from losses were in e.g. an established industry fund. Also, I don’t know if the legislation has changed since then.
Cheers
Dennis
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