Informed SMSF trustees conducive to advice

18 August 2016
| By Malavika |
image
image
expand image

Educating self-managed superannuation fund (SMSF) trustee members in order to make them better informed is more beneficial for advisers, according to the SMSF Association.

Chief executive and managing director, Andrea Slattery, told the association's technical conferences that the SMSF Association had developed a Trustee Knowledge Centre website that targeted SMSF trustees not using advice.

"As many of our members have said when their clients use the trustee education service, the fact they are more knowledgeable makes their job easier in providing genuine strategic advice," Slattery said.

Slattery added that the SMSF profession needed to be on the "front foot" in protecting consumers and boosting their professionalism, regardless of whether the SMSF specialists worked for a small independent advice firm or were at a corporate firm.

"There is a strong realisation across the multi-disciplinary professions that comprise the membership of the SMSF Association that they can't afford to wait for the government to say ‘enough is enough' and then legislate to protect consumers," she said.

"No one at these conferences was suggesting they did not need to do more in terms of professional development to further enhance their skill set."

Read more about:

AUTHOR

 

Recommended for you

 

MARKET INSIGHTS

sub-bg sidebar subscription

Never miss the latest news and developments in wealth management industry

Squeaky'21

My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...

1 week ago
Jason Warlond

Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...

1 week ago
Jasmin Jakupovic

How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...

1 week 1 day ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 1 week ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

9 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 2 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND