MLC and SPAA sign new SMSF advice and training commitment

MLC today announced it has signed a new commitment with the SMSF Professionals’ Association of Australia (SPAA) to provide advisers with the highest level of SMSF advice accreditation, training and support.

The commitment will provide MLC and NAB licensees who attain SPAA accreditation and membership with access to special NAB Wealth and SPAA training events. MLC and SPAA will also work together on research and trustee initiatives to benefit the SMSF industry.

MLC Head of Technical and Development, Keiran McIlwain, said the commitment would ensure MLC and NAB Financial Planners remained at the forefront of quality SMSF advice for Australians.

“This commitment will provide more of our advisers with market leading training and development opportunities in SMSF advice,” he said.

“With more Australians looking to SMSFs to engage in their superannuation and retirement plans, it is imperative advisers are there to meet the growing needs of clients around complex SMSF advice.”

According to statistics published by the ATO, as at September 2014, the number of Australian SMSFs had grown to 540,000 with 1,023,000 members. Assets held by SMSF trustees have also grown significantly to $559 billion

SPAA Chief Executive and Managing Director Andrea Slattery said: “This commitment by MLC is a welcome initiative that emphasises the importance of continually lifting professional standards in the SMSF space, as well as setting up the right training models to achieve this goal.”

Ms Slattery said it was critical that advisers were at the forefront of professionalism to allow consumers to make more informed decisions based on trusted, competent advice.

“This decision by MLC is another illustration of where the SMSF industry is heading, with recent research revealing that consumers are seeking specialist SMSF professionals who are continually looking for avenues to improve their professional standards to ensure their clients are getting the best possible advice,” she said.

“SPAA will provide a range of educational and training offerings for MLC and NAB Wealth’s financial planners which raises awareness of current regulations and legislation, and providing up-to-date knowledge of industry trends in the SMSF sector.”