The current training required to provide advice on self-managed superannuation funds (SMSFs) is the completion of training in the specialist knowledge area of superannuation.
In 2005, the Australian Securities and Investments Commission (ASIC) extended the specialist knowledge areas to include SMSF advice as a sub-category of superannuation. This was in acknowledgement of the complexities of this financial product area. While it is not mandatory to also complete an approved SMSF course, ASIC encourages this as best practice. Licensees are also reminded that they have a legal obligation to ensure that they and their advisers are adequately trained and competent to provide the services covered by the license.
The Advising in SMSFs Program is an assessment offered via self-paced distance learning. It comprises a written case study and an oral assessment which is completed over the telephone. You have six months to complete the assessment from the date of enrolment. As there is no examination, you can enrol at anytime.
You must be RG 146 compliant in superannuation to be eligible to enrol in the assessment.