Stars align for landmark agreement

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A collaboration between the Institute of Public Accountants (IPA) and SMSF Professionals’ Association (SPAA) is set to provide greater policy and advocacy support for Accountants in the SMSF sector.

The agreement signed yesterday will have the two associations working together in areas such as accreditation, advocacy, research and policy development, organisational efficiencies, and education. A joint working group of the boards and management of both entities will oversee the collaboration.

IPA CEO Andrew Conway said they will be providing "the strongest, most focused voice on behalf of public accountants that are financial advisers".

He says the "stars have aligned" in time for the agreement. "The new regulatory framework has created effectively a new breed of accountant financial adviser. The view of both the IPA and SPAA is that we need to align industry bodies down that path."

He says accountant financial advisers hold a prominent position as the most trusted adviser for clients, and the agreement would work to maintain that valuable position.

“The collaboration agreement between IPA and SPAA will create a strong voice for public accountants engaged in the provision of advice and services to Australia’s $474 billion plus SMSF sector."

SPAA CEO Andrea Slattery said, “We acknowledge the fine work of the IPA in recent years to advance policy issues and support their members and others engaged in the provision of financial advice. We look forward to building on our collective advocacy efforts to achieve strong member benefits.”

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  • Amy Gibbs on 19/04/2013 2:40:08 PM

    Firstly, in the interests of full disclosure, I'm the Manager Digital Strategy at the IPA.

    In relation to the above comment - just to clear up a point, we have always maintained that we support the principle of banning commissions (ie FoFA) - what we oppose is an un-level regulatory environment. We don't believe such a situation is in the public interest.

  • Leadership Free Zone on 19/04/2013 11:12:35 AM

    Worrying signs when the leadership of SPAA wants to align itself with the IPA. Andrew Conway favours the retention of a system of commission and third party payments....I'm sorry but that is not the basis from which to become a trusted adviser.

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