The first thing I did when I opened the final report from the Hayne Royal Commission into Banking Misconduct and Superannuation was to search for “SMSF”. Other than the definitions, it appeared twice.

Hayne made a number of recommendations about financial advice that will be well covered by others. There were also some interesting comments and recommendations around “independence”.

While the hearings sent shockwaves through Australia’s major financial institutions, I would describe the final report as being light on major structural reforms.

There was presumably a collective sigh of relief from our largest financial institutions when Hayne decided not to recommend a ban on superannuation funds that make a profit.

Almost everyone has a story about discovering that they or a friend had multiple superannuation accounts as a result of having multiple jobs throughout their lives.

Before the Productivity Commission publicly released their final report into superannuation review this month, there was inevitably much discussion about whether or not a minimum balance for SMSFs would be recommended.