Call for more accredited SMSF specialists

SMSF Association Media Release

The SMSF Association is urging more advisers to step up and become accredited SMSF Specialists as demand for SMSF advice continues to grow.

SMSF Association CEO, Peter Burgess, says there are enormous professional and commercial opportunities for practitioners who secure the necessary qualifications and competencies to service a growing SMSF market that is approaching $1 trillion in assets and has more than 1.1 million members.

“The feedback we are getting from our SMSF specialist advisers is that they cannot keep up with the demand for specialist SMSF advice – they simply don’t have capacity to service them all.

“Providing life cycle SMSF advice requires an extended network of professionals working together for the benefit of the client – this can include accountants, auditors, lawyers, financial advisers, stockbrokers, actuaries and SMSF administrators.

“These professionals become advocates for each other and a potential referral source for new business.”

Aside from the clear commercial benefits, there is also a need for more accredited SMSF Specialists to uphold the integrity of the SMSF sector.

“We know an SMSF is not suitable for everyone, so it’s critically important existing SMSF members and prospective SMSF members have access to specialist SMSF advice,” Burgess said.

The Association’s call for more SMSF specialists coincides with the release of the 2023/24 edition of  the SMSF education modules, which underpin the SMSF Specialist Advisor (SSA®) and SMSF Specialist Auditor (SSAud®) accreditation programs.

The updated education modules are available to practitioners who enter the SSA® or SSAud® accreditation programs on or after August 1. The modules can also be purchased individually by practitioners.

Burgess said, “Becoming an accredited SMSF Association Specialist is independent recognition of your SMSF expertise and knowledge – it’s the gold standard in the SMSF advisory professions.”

To assist practitioners through the SSA® accreditation program, the Association has recently added ‘drop-in’ sessions facilitated by the Association’s highly regarded technical team.

“These online sessions enable students to access valuable insights and develop a deeper understanding of technical issues, as they prepare for the exam.”

“Our SMSF accreditation programs are also well-suited to aspiring young professionals in supportive roles, seeking to accelerate their journey towards becoming accomplished SMSF specialists or auditors,” Burgess said

To find out more about the SMSF Association’s accreditation programs click here.