Brokers increase SMSF capabilities

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Next week the Mortgage and Finance Association of Australia (MFAA) will be encouraging brokers to extend their services into the SMSF sector with limited recourse borrowing. The group has launched three different programs to provide credit advisers with the tools and knowledge to assist their clients in the project management of their SMSF Lending.

Phil Naylor, CEO of the MFAA, says the training programs are a way for credit advisers to understand the growing sector of SMSF lending and deepen their relationship with clients.

“The programs provide our members with an opportunity to expand their scope of services, as more than more than 3,000 SMSF are being established each month in Australia”, he says.

The MFAA is also urging its members to develop a network of professionals, like financial planners, accountants and legal firms, who can work together in their establishment and tax issues that flow from the training programs.

“With the success of SMSF borrowing relying heavily on credit approval from lenders,” says Naylor, “it makes sense for credit advisers to play a key role in project managing the SMSF lending to ensure all of the lender’s requirements are met from outset.”

The training, delivered through MFAA Pathways, involves programs which range from providing credit advisers with an understanding of SMSF basics for up to 10 hours of online modules and assessments, at a cost of $440.

Two more extensive programs include up to 30 hours of online modules, exercises, assessments and workshops, with status attained of MFAA Credit Adviser (SMSF) Accreditation, at a cost of up to $1,089.

The online modules combine audio and video sessions, assessments and learning checks, case studies, course notes and hand-outs, and ending with an optional workshop.

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