POWERED BY MOMENTUM MEDIA
SPAA encourages trustee education around SMSFs
The Self-Managed Super Fund Professionals' Association of Australia (SPAA) is encouraging the further education of self-managed super fund (SMSF) trustees through the launch of a trustee education curriculum guide.
SPAA agreed with comments made by Cooper Review chairperson Jeremy Cooper about the high level of competency and the financial expertise of self-managed super fund (SMSF) trustees, and refuted speculation in the media that the future growth of the sector would lead to an erosion of trustee quality. SPAA is pushing for higher standards for financial planners and increasing educational opportunities for fund trustees.
"SPAA is supportive of the Cooper Review's recommendations for higher competencies for SMSF auditors and advisers and has advocated for this through our contribution to the Cooper Review process and the Future of Financial Advice (FoFA) reform process," said SPAA chairperson Sharyn Long.
Long noted that there had been a growing number of advisers applying for and completing accreditation as either a SPAA Specialist Adviser or a SPAA Specialist Auditor, while the association recently launched a SMSF trustee education curriculum guide to encourage education providers and industry practitioners to create and provide SMSF trustee training.
"We believe that as the numbers of funds and member balances grow, more and more trustees will seek to educate themselves about their responsibilities and obligations, many of them encouraged by their advisers," she said.
AUTHOR
Mike Taylor
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
74.26 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
