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SMSF Option!

For those members of the NTAA who simply want to continue to advise clients on setting up and administering SMSFs once the accountant’s exemption is gone (from 1 July 2016).

Step 1.  Join NTAA ADVICE

The Association for accountants who advise on SMSFs for only $99 per member per year to gain access to a telephone helpline, discounts and much more.

Step 2.  Get Qualified

To provide advice under an Australian Financial Services Licence, a persons’ prior study needs to meet the competencies outlined in ASIC’s Regulatory Guide (RG) 146.

This Regulatory Guide has specific requirements for what must be studied to allow authorisation, and a general commerce degree may not be sufficient.

Where a person wishes to provide licensed advice to clients only in relation to SMSFs, it is only the superannuation elements of RG146 that require completion for authorisation in this area

Pinnacle Financial Services Academy offers a Diploma of Financial Planning course to comply with the training requirements of the Australian Skills Quality Authority (the governing body for such courses).  This ensures the course standard meets the requirements of RG146.

With the full Diploma offered in three modules, the first module (SMSF Personal Advice Course) provides RG146 accreditation for those seeking authorisation to give advice to clients on superannuation.  It covers the following:

  • General Knowledge*;
  • Superannuation; and
  • SMSFs.

 *For those with a practicing certificate from CPA, ICAA, IPA or NTAA an exemption from the general knowledge chapter of study may be given.

We know you are busy with your practice, so the SMSF Personal Advice Course is designed to give maximum flexibility. It can be completed at your own pace any time within the six months allowed.

This is an online course, and you will be provided with an eBook for your study.  All assessments (multiple choice questions) are completed online and the course finishes with a project (assignment).  

Assistance from NTAA ADVICE will be available through online videos with case studies, and our phone helpline.

 NTAA ADVICE Member Price for this course is only $600

Pinnacle Financial Services Academy is a wholly owned subsidiary of the NTAA.

 

Step 3.  Become Authorised

Having completed Step 2, you are now accredited to become an Authorised Representative (AR) of the SMSF Advisers Network (SAN) – the NTAA’s Australian Financial Services Licence (AFSL).  Alternatively, you can apply to join any other AFSL to provide superannuation advice.

Operating as an AR is a different way of providing advice.  To assist you through these changes, SAN will support you, rather than try to change the way you do business.

As an Authorised Representative of SAN you are able to continue to set-up and administer SMSFs.

This authorisation will allow advice to be given to clients on:

  • Establishment of an SMSF.
  • Commencement of a pension (Transition to Retirement and Account Based).
  • Rollover of existing superannuation plans.
  • Specific contribution amounts:
    –     Concessional
    –     Non-concessional
    –     In-specie
  • Asset class investment strategy for the SMSF.

To discuss this option further please call the NTAA Advice team on 1800 808 105 or email queries to
info@ntaa-advice.com.au

If you would like to be able to offer even more financial advice to your clients, please click here.