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Accounting, Estate Planning, Financial Planning

Wealth transfer body to formally launch

SAPEPAA launch

The Succession, Asset Protection and Estate Planning Advisers Association (SAPEPAA) will formally launch this week about a year after its formation was first flagged.

A year after plans for its creation were unveiled, the Succession, Asset Protection and Estate Planning Advisers Association (SAPEPAA) will become a reality, with the latest adviser representative body set to be formally launched later this week.

SAPEPAA board chair Grant Abbott said the new body would launch on 2 December following 18 months of development by a group of accountants, finance and family advisers and the SAPEPAA board will open up foundation membership to 100 advisers who have been through its accreditation course.

Abbott said beyond the 100 foundation members, SAPEPAA would also offer a certified SAPEP adviser membership for those who have completed a recognised SAPEPAA accreditation course, as well as industry membership for people who are not seeking certification or advising status.

“Having been one of the founders of the SMSF Association, I am personally surprised by how far we have come, thanks to the extraordinary efforts of the directors on the board,” he said in an email update.

“More importantly, there is now a comprehensive framework for accountants and financial planners to provide advice in this exciting area that covers more than $9 trillion of family homes, investments and superannuation.”

Abbott first flagged the creation of SAPEPAA in December 2020, including the creation of its own competency standards, and in February this year told selfmanagedsuper the body would focus on the skills of its members rather than trying to scale up the association.

In the update, he said the SAPEPAA board had looked at the existing accounting, planning and SMSF associations, but opted to create a new association with a specific focus on training, technical help and marketing for SAPEPAA advisers.

“SAPEPAA is there to protect and advance our advisers’ interests with some great and exciting innovations that you will see firsthand at our launch. We are not there to build 100s of employees, but are focused on earning revenue from mandated association training and conferences. In addition, we are there to help grow the SAPEP industry.

“By the end of 2030, we fully expect there will be 3000 SAPEPAA board certified advisers. These advisers will enter SAPEPAA certification via accreditation courses from universities, training colleges and, of course, the LightYear Training Group.”

SAPEPAA has close links with LightYear Training Group, with three of its board members also working for the latter.

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