AMP : SMSF increases education and accreditation for advisers

AMP SMSF is partnering with the SMSF Association to launch a new SMSF education and accreditation program for AMP aligned advisers and their support staff.

The program, which commenced this week, will allow AMP's 3800 aligned advisers to increase their knowledge and skills in specialist SMSF advice. This up-skilling will be independently certified by the SMSF Association.

Natasha Fenech, Managing Director of AMP SMSF, said: "AMP is committed to raising competency standards in the SMSF sector and helping advisers build their SMSF advice capabilities.

"This initiative builds on our existing face-to-face SMSF specialist course, with the program now extended to include the SMSF Association Accreditation exam that awards advisers with the SMSF Association SMSF Specialist Advisor (SSA) Accreditation designation.

"The accreditation complements a series of new initiatives announced by AMP last year to increase adviser professionalism and expertise," Ms Fenech said.

As part of the changes announced by AMP last August, all existing and new advisers must hold a Certified Financial Planner® (CFP), a Fellow Chartered Financial Practitioner (FChFP), or Masters in Financial Planning (MoFP) qualification by 31 December 2019 (existing advisers) or within five years of joining an AMP practice (new advisers).

The accreditation program will complement the new education standards for advisers wanting to specialise in SMSF advice. Advisers who successfully complete the Association's Accreditation exam will be awarded the SMSF Specialist Advisor (SAA) designation. Advisers will also be required to join the SMSF Association.

Commenting on the new program, SMSF Association Chief Executive Officer and Managing Director, Andrea Slattery, said: "This AMP initiative is further evidence of the emergence of SMSF specialists and the critical role they play in leading the professionalism, integrity and sustainability of the SMSF sector that now represents nearly one-third of the $2 trillion in superannuation assets under management.

"Every Australian has the right to quality of life in retirement and the emergence of the SMSF specialist is integral to achieving this goal in our sector of the superannuation market.

"This education option being offered to AMP advisers and their support staff demonstrates AMP's acknowledgment of the importance of the SMSF specialist and its ongoing commitment to raising competency standards."

"This partnership also recognises the commitment of both parties to support AMP financial advisers as well as providing a focus on training and education to attain higher professional standards in the SMSF sector."