Dixon Advisory Group pays ASIC infringement notices on SMSF claims

Dixon Advisory Group Limited has paid off two ASIC infringement notices at $10,200 apiece for publishing potentially misleading claims regarding self-managed super funds on its website.

ASIC had concerns a web page and video dd not correctly portray the costs and performance of SMSFs when compared to retail and industry super funds.

ASIC Deputy Chair Peter Kell said any comparisons between SMSFs and industry and retail funds, particularly regarding performance or fees, must be accurate and have a reasonable basis, and that any qualification should be apparent to a consumer when they first see the information.

"ASIC is determined that all consumers including those considering a self-managed approach to their super get accurate information, and are not misled by any form of advertising, including online and through social media," Mr Kell said..

Dixon Advisory's website and social media accounts featured a promotional video making claims relating to an independent review of the superannuating system, according to ASIC.