The SMSF Association has relaunched its trustee education website, changing its name and expanding the educational material available to trustees and their financial advisers.
The new site – www.smsfconnect.com – was developed in response to ASIC’s “Report 575 SMSFs: Improving the quality of advice and member experiences”, which found SMSF advisers needed to improve the level of education provided to their clients regarding their obligations and responsibilities as SMSF trustees.
“We believe that SMSF Connect will be a vital tool for our members to deliver on this recommendation by the regulator,” SMSF Association chief executive John Maroney said, adding the new site “delivers on our vision of enabling Australians to take greater control of their own destiny through a sustainable SMSF community”.
Maroney said SMSF Connect would offer trustees access to insight papers, guides, checklists, videos and learning modules to counter the 23 per cent of SMSFs, or 136,000 funds, that have unmet tax and superannuation advice needs, according to a report conducted for the association.
“The research report also found that 82 per cent of SMSFs believe that diversification is important, however, in practice many don’t achieve it,” he said.
“SMSF Connect will arm trustees with the information on how to achieve diversification in their fund, as well as connecting them to accredited SMSF professionals who can help them achieve this goal.”
The information available would cover investment options, strategy planning and portfolio construction, and links to product providers, as well as updates on advocacy action conducted by the association, changes to SMSF legislation, and rules and trustee administration obligations and responsibilities, he noted.
