The SMSF Academy, a new online CPD-accredited education, will be delivered through HUB24’s Professional Development Centre and provides valuable insights on the client and business benefits of SMSFs for younger investors, empowering advisers with SMSF knowledge and expertise to deliver new client value propositions.
It will feature key insights from Heffron managing director and technical expert, Meg Heffron.
The most recent data from the Class Benchmark Report shows that Generation X (51.5 per cent) and Millennials (23.1 per cent) collectively drove 74.6 per cent of new fund establishments, as total SMSFs grew to 614,708, demonstrating the increasing popularity of SMSFs as a way of saving for retirement among younger generations.
The report also revealed that SMSFs remain popular among high-net-worth investors due to their flexibility to accommodate more complex, tax-effective estate planning strategies.
HUB24 head of group marketing and communications, Anne McDonnell, said the intergenerational wealth transfer and ageing population are providing opportunities for advisers to evolve their advice proposition to meet the needs of early-stage wealth accumulators, later stage retirees, or clients with less complex needs.
“Recent data demonstrates that many Australians are choosing SMSFs to enable their retirement savings objectives. This presents a great opportunity for financial advisers looking to expand their client proposition by offering SMSF specialist advice,” she said.
SMSF Association chief executive officer Peter Burgess said feedback from SMSF specialist advisers indicated current members are not keeping up with the growing demands of the sector.
“The commercial and professional opportunities for practitioners who secure the necessary qualifications to service the SMSF sector are endless, which is now approaching $1 trillion in assets and has more than 1.1 million members,” he said.
“Providing lifestyle SMSF advice requires an extended network of professionals working together for the benefit of the client – this can include accountants, auditors, lawyers, financial advisers, stockbrokers, actuaries and SMSF administrators.”
He continued that upholding the integrity of the SMSF sector and meeting the growing demand for advice is reliant on an increased pool of accredited specialists who have undertaken the necessary training and education.
Modules 1 and 2 of the SMSF Academy will also be made available to Striver students and these SMSF resources complement HUB24’s Managed Portfolio Academy, which has been available as a course through Striver since 2023.
