SMSF Association CEO Andrea Slattery has challenged SMSF advisors to take control of their profession and build trust, in an address to the 2017 SMSF Association National Conference.
“The premise of superannuation relies on trust in the system and trust in the government to protect Australia’s primary savings vehicle. Stability of legislation and consistency of policy,” Slattery said.
“Also, consumers need to be able to trust that the advice they receive from their advisors is accurate and in their best interest.”
“Your clients have never been in greater need of your trusted professional advice.”
Slattery told the conference that understanding the changes to superannuation made in 2016 can help add significant value for clients.
“There has never been a better time to engage and build trust and confidence.”
“I know that due to the complexity of SMSFs, you as advisors will have opportunities to add meaningful value well into the future.”
“You and your peers are absolutely necessary to the SMSF industry, but the future will not again tolerate a product story.”
“We must all continue to demonstrate that SMSFs can be a vehicle for people to take control of their destiny.”
“We cannot let the future SMSF Trustees down.”
“Be proud of where we sit as an industry but be vigilant to ensure the SMSF industry fulfils its potential and its place in the Australian economy.”
Slattery challenged SMSF advisors to take control of their profession.
“Don’t settle for mediocrity because it is safe or what the government sets a baseline for you – be the cornerstone in creating your future profession. Take a good honest look at the opportunities before you.”
“Create a professional legacy for others to follow.”
“Raising competency and knowledge is not easy, nor is it quick, but it is necessary. To create trust, you, as advisors, accountants, auditors and administrators, must maintain standards expected and demanded of professionals.”
“It is absolutely necessary. To think otherwise is delusional. Truly professional advice will create trust with your clients. It will help them make better decisions.”
“It will lead to a better outcome for you and the SMSF industry.”
“It will set you apart in a crowded market.”