SMSF Association Submission
The SMSF Association welcomes the opportunity to provide this submission in response to the Government’s policy paper: Education Standards for Financial Advisers. Two of the core components of the Association’s mission are professionalism and integrity. This is underpinned by our core beliefs which includes education and accreditation for advisers operating in the SMSF sector.
We acknowledge the practicalities of not proceeding with a model of accrediting individual degrees, courses, or subjects. However, the adoption of a period of experience only pathway to satisfy the education requirements does not meet the original policy intent of enhancing professional standards and moving financial advisory services towards becoming a true profession.
Any review or amendments of the education standards undertaken now or in the future should have at its core the following objectives:
- Upholding the standards of a profession; and
- Maintaining a consumer centric framework that considers the needs and protection of consumers of financial services.