Sydney 7th May 2024 – HUB24 today has launched the SMSF Academy, a new online CPD-accredited education resource to help advisers meet the rising demand for specialist SMSF advice.1
Delivered through HUB24’s Professional Development Centre, the SMSF Academy provides valuable insights on the client and business benefits of SMSFs for younger investors, empowering advisers with SMSF knowledge and expertise to deliver new client value propositions. The Academy features key insights from Heffron Managing Director and technical expert Meg Heffron.2
According to data from the half-yearly FY2024 Class Benchmark Report, Generation X (51.5%) and Millennials (23.1%) collectively drove 74.6% of new fund establishments, as total SMSFs grew to 614,708. These figures demonstrate the increasing popularity of SMSFs as a way of saving for retirement, particularly among younger generations.3
SMSFs also remain popular among high-net-worth investors given their flexibility to accommodate more complex, tax-effective estate planning strategies.4
HUB24 Head of Group Marketing and Communications Anne McDonnell says by working with their financial adviser, clients can maximise the benefits of establishing an SMSF.
“The intergenerational wealth transfer and ageing population are providing opportunities for advisers to evolve their advice proposition to meet the needs of early-stage wealth accumulators, later stage retirees, or clients with less complex needs.”
Recent data demonstrates that many Australians are choosing SMSFs to enable their retirement savings objectives. This presents a great opportunity for financial advisers looking to expand their client proposition by offering SMSF specialist advice.
Demand for SMSF specialist advice on the rise
SMSFA Chief Executive Officer Peter Burgess says feedback from SMSF specialist advisers indicated current members are not keeping up with the growing demands of the sector.
“The commercial and professional opportunities for practitioners who secure the necessary qualifications to service the SMSF sector are endless, which is now approaching $1 trillion in assets and has more than 1.1 million members.”
“Providing lifestyle SMSF advice requires an extended network of professionals working together for the benefit of the client – this can include accountants, auditors, lawyers, financial advisers, stockbrokers, actuaries and SMSF administrators.”
“Upholding integrity of the SMSF sector and meeting the growing demand for advice is reliant on an increased pool of accredited specialists who have undertaken the necessary training and education. Having access to CPD accredited resources such as HUB24’s SMSF Academy contributes to enhancing education standards among finance professionals.”
SMSF education expert Meg Heffron agreed: “HUB24’s SMSF Academy offers invaluable insights for advisers seeking an introductory understanding of the SMSF sector.”
Supporting the next generation of advisers with education
As part of HUB24’s commitment to supporting the next generation of advisers through education, Modules 1 and 2 of the SMSF Academy will also be made available to Striver students. These SMSF resources compliment HUB24’s Managed Portfolio Academy, which has been available as a course through Striver since 2023.5
Ms McDonnell said: “We are delighted to be continuing our support of Striver by providing the next generation of financial advisers with additional educational resources that enhance their knowledge and understanding of SMSFs.
“Advisers make a huge difference to clients lives and advised clients report they feel better off, enjoy a higher quality of life, have more financial confidence and experience less financial stress. In the current economic environment, this has never been more important.”6
HUB24 is committed to empowering advisers to enable more Australians access to quality financial advice. For more information on HUB24’s SMSF Academy, please visit the Professional Development Centre.
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For media inquiries contact:
Fiona Harris
E: fharris@hub24.com.au
P: 03 9275 7835
About HUB24
HUB24 Limited is listed on the Australian Securities Exchange, and includes the award-winning HUB24 platform, HUBconnect, Class and myprosperity.
The HUB24 platform offers advisers and their clients a comprehensive range of investment options, including market-leading managed portfolio solutions, and enhanced transaction and reporting functionality. As one of the fastest growing platforms in the market, the platform is recognised for providing choice and innovative product solutions that create value for advisers and their clients.
For further information, please visit https://www.hub24.com.au/.
About Heffron
Heffron Managing Director, Meg Heffron, has been working exclusively with SMSFs since 1998. Her firm specialises in all aspects of SMSFs – administration, actuarial, education, technical support and documents. They have an extensive range of content and CPD certified education (including specialised courses) for advisers and accountants looking to learn more about superannuation and SMSFs (www.heffron.com.au).
1 SMSF Academy has received CPD accreditation from the SMSFA and the FAAA.
2 HUB24 Professional development centre.
3 Self-managed super fund quarterly statistical report – December 2023.
4 Directing the matrix: Meeting the advice needs of high-net-worth clients.
5 https://www.striver.careers/.
6 FAAA Value of Advice Consumer Research Key Findings 2023.
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