There are two classes of private investor in Australia: Everyday retail investors and legally certified sophisticated investors (defined by law as having an annual income of at least $250,000 or assets of more than $2.5m),Today we examine the sophisticated investor regime - how it works and whether you would gain anything from making the cut. Ray Tubman of Heirwealth joins wealth editor James Kirby in this episode  ------- In today's show, we cover: The great Australian $3.5 trillion wealth transfer The good and bad of becoming a sophisticated investor Property options for the High Net Worth brigade SMSF versus index funds inside Big Super  See omnystudio.com/listener for privacy information.