Navigating the murky areas of the wholesale investor regime

In this episode, SMSF Association policy manager Tracey Scotchbrook outlines some of the different tests that apply for classing clients as wholesale or sophisticated investors and where they might apply for SMSF clients specifically.

Tracey highlights some of the grey areas in the rules resulting from a lack of guidance and why the sophisticated and wholesale investor rules need further review and reform.

She also explains how both advisers and accountants can protect themselves from some of the risks in this area by ensuring clients are adequately informed and keeping good records.