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SMSFA launches online education models
The SMSF Association (SMSFA) has launched nine compulsory comprehensive online modules as part of its SMSF Specialist Advisor (SSA) designation.
The designation provided independent recognition of a practitioners self-managed superannuation fund (SMSF) expertise and knowledge.
The modules had been written at Australian Qualification Framework level 8 and practitioners who attained the designation would receive one Financial Advisers Standards and Ethics Authority (FASEA) subject credit for recognition of prior learning.
The SMSFA had also simplified the SSA education pathways by removing the 12-week requirement to complete the modules that previously existed under the SSA program.
It would also offer a reduced enrolment fee for the re-launched SSA program, for a short period of time.
Peter Burgess, SMSFA Association deputy chief executive/director of policy and education, said the organisation had received feedback that more detailed course work and study guidance was required to support practitioners to pass the exam and obtain the SSA designation.
“The new online training modules are much more comprehensive than the short study guides that previously accompanied the SSA program,” Burgess said.
“Each module contains the latest technical information and access to extensive resources from the Association’s resource library, all in an interactive and easy to follow layout.
“They all contain detailed worked examples, multiple-choice quizzes and are designed to support participants to acquire complex knowledge and skills.”
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The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
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