SMSF Specialist Advisor (SSA™)

Become an SMSF Specialist Advisor (SSA™)

SMSF Specialist Advisor Pathway Program (SSA™)

The SMSF Association SMSF Specialist Advisor™ (SSA) exam is recognised industry-wide as a comprehensive and challenging test of an individual’s ability as an SMSF advisor.

This examination enables you to gain recognition for your skills and knowledge in the SMSF sector as well as knowledge of the SIS, Tax and Corporations Law. The questions cover industry standards, fund setup, contributions, investment rules, fund taxation, benefit payments and winding up funds.

Suitable for members seeking validation of their SMSF knowledge and guidance on their development needs prior to attempting the online examination component of the program. This option includes:

A diagnostic self-assessment test to identify areas that may require additional revision prior to attempting the online examination.
Access to nine (9) self-learning modules to assist with revision in relevant areas identified through completion of the diagnostic self-assessment test. You can therefore focus on the areas that require revision, or work through all nine of the modules to prepare for the online examination.

Entry Requirements

Associate Members of the SMSF Association are eligible to apply for accreditation as an SMSF Specialist Advisor™, however the Association recommends that you meet the following criteria prior to entering the program:

At least 2 years experience providing advice and/or services to the SMSF sector.
SMSF related work activities should account for, or be growing towards a minimum of 10% of your total workload.

Program Components

The SSA™ Program consists of only two components:

1. Examination

The SMSF Association’s online examination process is fully supervised. You will be required to nominate an examination supervisor who is then responsible for ensuring that the Association’s examination conditions are adhered to. For convenience, the SMSF Association Online Examination Centre enables the applicant and the examination supervisor to decide when and where the examination will be conducted.

The online examination is 2 hours in duration and consists of 120 multiple choice questions. No written answers are required. Access to the exam is via a unique electronic log-in and password.

In order to prepare for the online examination, you will be sent the following:

The SMSF Association Online Examination Centre Tutorial to help you navigate the online examination environment.
The SMSF Specialist Advisor™ Practice Examination containing 25 sample questions that enable you to see the level at which the questions in the examination are set.

A list of examinable topics.

Important note: This accreditation program is not an educational course, therefore the Association does not supply any further materials other than those stated above. The Association expects that an applicant undertaking the program already has up-to-date and comprehensive SMSF knowledge. Any study undertaken prior to the examination is at your discretion with the Association’s list of examinable topics enabling you to design your own learning program.

Applicants are permitted a maximum of two (2) attempts to pass the online examination.

2. Questionnaire

This short questionnaire tests and verifies your eligibility for the SMSF Specialist Advisor Program and your CPD activities where appropriate.

CPD Activity Review

You are requested to provide details of your CPD activities which fall within the current triennium period. The Association will then conduct a review of the information provided to ensure it meets the requirements of the SMSF Association CPD Policy.

If, at the time of submitting the questionnaire, you are yet to complete the first full year of your first triennium, your CPD activities will not be reviewed as part of the accreditation process. Instead, you will be flagged for a compulsory CPD activity check at the conclusion of Year 1 of your first triennium to ensure you have achieved the minimum points as per the Association CPD Policy.

Timeframes

You are required to successfully complete both components of the program (online examination and SSA™ questionnaire) within three (3) months of entering the accreditation program.

If you fail to successfully complete the SMSF Association Specialist Accreditation Program within this timeframe, you may apply for a maximum two month extension, paying the extension fee of $220 (GST incl).

Failure to successfully complete both components within five (5) months of initial entry into the program will result in your application being terminated, with forfeiture of all fees paid and results already earned. Should you wish to re-enter the Specialist Program in the future you will be subject to the same conditions as all new entrants, that is, you will be required to pay in full and successfully complete both components of the program.

Special circumstances can be submitted for consideration by the SMSF Association Professional Standards Committee (PSC).

FASEA

FASEA Education Standards and Recognised Prior Learning

The Financial Adviser Standards and Ethics Authority has recognised the SMSF Specialist Advisor (SSA) designation for its recognised prior learning (RPL) category of “Coursework completed to attain a Professional Designation”. This recognition of the SSA for RPL will reduce the number of bridging courses those with the SSA designation may be required to undertake.

Anyone who has completed the SSA since it was introduced in 2005 is eligible for one credit of RPL towards FASEA’s bridging course requirements for existing financial advisers. This will reduce time and costs for those who were existing financial advisers at any time between 1 January 2016 and 1 January 2019 and have completed the SSA.

To better understand the benefit of holding the SSA on your FASEA education obligations, we recommend using FASEA’s Education Pathways Tool which provides an accurate assessment of any further FASEA education requirements.

RG146 SMSF

The SMSF Association SSA™ Examination Satisfies the Knowledge Requirements of RG146 SMSF

In recent times there has been increased demand for individuals who provide self-managed super fund advice to hold Regulatory Guide 146 (RG146) compliance in their specialist area of SMSF, together with mandatory RG146 compliance in the areas of Superannuation and Generic Knowledge & Skills.

The SMSF Specialist Advisor™ (SSA) examination satisfies the knowledge requirements of RG146 SMSF.

SMSF Association members who operate under an AFSL and have successfully completed the SSA Exam can request a letter from our authorised assessor as evidence of RG146 SMSF compliance.

To obtain your letter please submit an online form and certify that you have successfully completed the SMSF Association’s Specialist Advisor™ (SSA) Examination and would like to request acknowledgement from the Association’s Authorised Assessor.

Registration

Before applying you must be an SMSF Association Associate Member. If you are not yet a member of the SMSF Association, click here to join or visit our membership page for more information. Existing Associate members can use either of the options below:

Option 1:

Option 2: Download the documents below and complete the following steps:

Steps:

Read the SMSF Specialist Advisor Program Rules & Conditions.
Complete the Agreement & Payment Form (on back page of the SMSF Specialist Advisor brochure).
Return the completed Agreement & Payment Form to [email protected] or mail to: SMSF Association, PO Box 3296 Rundle Mall ADELAIDE SA 5000
The Association will contact you to acknowledge receipt of your completed application and payment of fees in full . Appropriate examination and questionnaire documents will be forwarded to you shortly thereafter.
If you have selected the Pathway Program, you will receive details of how to access the diagnostic self-assessment test and nine self-learning modules.