Consumer trust isn’t something to be taken for granted, but reports from the UK, US and here at home are all pointing towards an uplift in trust levels around financial advice, which can only be a welcome development.
There are significant tailwinds behind the financial advice industry at the moment, but some major obstacles are still preventing advice practices from taking advantage of surging demand according to a new study from CFS.
SMSF Association launches online training
The SMSF Association have launched a comprehensive series of online modules as they seek to evolve the delivery of the SMSF Specialist Advisery (SSA) designation.
The highly coveted designation requires an extensive amount of knowledge across taxation and superannuation law, which has traditionally been delivered through short study guides culminating in a detailed examination.
The Associations deputy CEO, Peter Burgess, highlighted that “over the years the Association has received feedback that more detailed course work and study guidance is required to support practitioners to pass the exam and obtain the SSA designation.
“The new on-line training modules are much more comprehensive than the short study guides that previously accompanied the SSA program.”
Replacing the self-guided learning process is an online module, that is compulsory for all applicants, which includes 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.” Burgess said. Importantly, the same exam structure has been maintained, with the online training supporting preparation.
The Association’s SSA designation provides independent recognition of a practitioner’s SMSF expertise and knowledge. The modules have been written at AQF level 8 and therefore add to ongoing professional development requirements.
The change comes at an important time for the industry with Burgess highlighting that “recent research has shown that the number of SMSF trustees with unmet advice needs continues to grow” making it more important than ever to have skilled and experienced financial advisers available to meet this demand.
The Association is offering a reduced enrolment fee for the re-launched SSA program. Further details can be found at: https://www.smsfassociation.com/specialisation/smsf-specialist-advisor-ssa
