More than $351.8 billion worth of assets reside in Australia’s SMSFs or approximately 30.9% of the total superannuation pool of assets.  Approximately 2,500 new SMSFs are set up each month with the current average member balance standing at approximately $454,000.

Because there is no formal requirement to be a licensed SMSF advisor, there has been a dramatic expansion in the number of people – both professionals and non-professionals – providing advice and recommending SMSFs to clients.

This means any person may claim to be an SMSF advisor, irrespective of whether they have had any formal training in the field. As such, there have been strong calls from industry participants for a body to self-regulate the area.

SPAA has answered the call.....

Not only does the association offer vital services to SMSF professionals at a time of significant industry reform, but it also oversees a stringent accreditation process through which advisors are endorsed as specialists in their field.

Through constant support, ongoing education and advice, SPAA members will ensure their competency in this highly specialised field. As a result, we expect consumers to seek SPAA members who are, SMSF Specialist Advisors® as their SMSF advisor of choice, recognising the SPAA designation as a symbol of authority and expertise.