The strategic collaboration announced by the SMSF Professionals’ Association of Australia (SPAA) and Institute of Public Accountants (IPA) will not only benefit the accounting profession, says SPAA.
Speaking to ifa on the eve of the announcement, SPAA chief executive Andrea Slattery said the memorandum of understanding should not be viewed as “exclusionary”.
“Providing professional advice services to SMSF trustees and members and to high net-worth clients generally requires a range of services,” she said.
“This is an opportunity to bring more competent advisers into the SMSF sector, which is an opportunity for referrals and an opportunity for networking.
“It will help towards raising standards and competencies across the industry.”
Slattery said SPAA already has a similar agreement in place with the Financial Planning Association and that she encourages financial planners to increase competency in SMSF advice through SPAA’s accreditation process.
For full details of the SPAA-IPA deal, see today's InvestorDaily’s coverage.
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