SMSF Association banner ‘all-embracing’
11 February 2015: The SMSF Professionals’ Association of Australia (SPAA) has changed its name to the SMSF Association, effective immediately.
The Managing Director/CEO of the SMSF Association, Andrea Slattery, says: “It’s critical that the organisation has a name that reflects the importance of the SMSF sector and the breadth of its membership.
“As part of our evolution we have decided to change our name to something simpler and more intuitive – the SMSF Association.”
Slattery says it wasn’t a decision made lightly because of the recognition SPAA had achieved over the past 12 years with governments and their advisors, regulators and across the financial services and superannuation industries, but had come to the conclusion that a name change was necessary to reflect the association’s leadership of the broader SMSF community.
“Since SPAA’s inception we have always worked towards building integrity into the SMSF sector.
“We have directly represented the professionals servicing the SMSF community and, indirectly, a majority of the more than one million trustees and members who are involved in SMSFs.
“But recent stakeholder research has shown that our name, which is an acronym of an acronym, is often confusing for the wider SMSF community to understand. Given our mission is to lead the SMSF sector in Australia, it is important to have a brand that instills confidence and trust and the place to seek professionals.
“There can be no doubt that the acronym SMSF symbolises our sector of the superannuation industry which, in no small way, is partly due to our efforts. An organisation, that is the pre-eminent voice for all SMSFs, should have a name that reflects this position.”
Slattery says the organisation can look back on what it has achieved since it was founded in 2003 with the explicit goals of bringing to the SMSF community greater professionalism, integrity and sustainability.
“When the organisation was set up 12 years ago there was a degree of scepticism about SMSFs and whether they would even survive.
“In the event the SMSF community has thrived with around one million trustees and members, more than half a million funds, and funds under management of more than $560 billion.
“SMSFs are now the largest and fastest growing superannuation sector and expected to grow fourfold by 2033.
“In addition, the two in-depth reviews, Cooper in 2010 and Murray in 2014, have endorsed the SMSF sector as being an integral part of the superannuation industry that is well-functioning and robust.
“We are here to improve the quality of advisors, the knowledge of trustees and the credibility and health of a vibrant SMSF community.
“We are proud of our contribution to date to the success of the SMSF sector and are looking forward to an exciting future as the SMSF Association.”
About the SMSF Association:
The SMSF Association is the authoritative voice for the self-managed superannuation fund sector. The Association, which represents professionals providing a range of services across various disciplines in the complex area of SMSFs, is an advocate for the highest professional standards and competence to ensure SMSF trustees always receive the best possible advice.
Contact for interviews:
SMSF Association CEO/Managing Director
M: 0417 898 317
M: 0409 585 979