Business News

Enhancing trust crucial for SMSF clients

The SMSF Association declared it is time to elevate the trust between advisers and their SMSF clients, as it had a critical impact on their fund’s decision making.

“The very first job of a professional leader is to inspire trust,” SMSFA chief executive Andrea Slattery said during the opening of the association’s 2016 State Technical Conference in Sydney.

“Trust is one of the most essential elements in delivering extraordinary results.

“Trust is integral to achieving the highest performance possible because it’s the foundation of [advisers’] relationship with clients.

“So understanding the importance of trust requires us to display to our clients the highest level of skill possible in order to empower their decision making.”

Slattery said the association was fully committed to boosting trust across the industry.

“The next 12 months are critical – there’s never been a more important time for us to work together to build the future,” she urged.

“The SMSF Association represents a significant, multi-disciplinary profession that’s building momentum to fully service the 1.1 million trustees, growing at approximately 6000 per month, with the age groups of 35 to 45 being the largest growth [segment].”

Slattery noted the association continued to challenge professional SMSF advisers to design their own future for the “growing army of trustees”, as they were already ahead of the curve and bucking the trend by committing to professionalism, which was recognised by government, regulators and higher education institutions.

“We can collectively ensure quality financial advice services are being provided and thereby reduce the risk of poor consumer sentiment,” she said.

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