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'Ride the Wave': SPAA conference takes SMSF sector into 2014
On this week’s Wealth Professional TV, Graeme Colley of SPAA discusses their upcoming National Conference and the year ahead for the SMSF sector.
Video transcript below:
Graeme Colley, Director, Technical and Professional Standards, SPAA
Graeme Colley: What we see being on the rise for 2014 days is the government’s interest in superannuation, particularly in the financial services area and also reviewing pension. So what I have dubbed 2014 as the year of the enquiry, so that’s one part of it. The other part is the raising of professional standards within the industry and hopefully we will see a great increase in the knowledge base of Self Managed Superannuation Professionals and particularly financial professionals in the superannuation area.
Well the reason why we have gone into a little bit of emphasis on technology this year is that substantial changes will be required for self managed superannuation funds this year and also next year. We are seeing employer contributions and super streams take place on self managed superannuation funds. We are seeing the cloud and the impact upon that in the way in which we do our business and a whole range of other things linked in with the technology that’s required for self managed superannuation funds.
The other things I’d like to tell about the conference, that we’ve got a range of speakers, we are not only covering the government side of things because we’ve got the Minister and the Opposition Spokesman on superannuation coming along. We have also got the regulators coming along and one of our speakers, Rob Hefferan from Treasuries and Executive Director of Treasury. That’s one of the few times that people like that come out and talk to conferences like ours. So we are very proud to have that. We have also got our patron, Sir Anthony Mason, who is talking about the way in which he sees professionalism going forward, a very important part of superannuation as we see it.
And on the other side of things we have got international speakers coming to talk to us. We have got Pete Gunning, we have Skye MacPherson who will talk to us about the investment scene both overseas and in Australia. The other side of the conference covering the technical side of things is going to be talking about insurance in superannuation, it will be talking about the estate planning aspects, blended families, a whole range of issues there and of course, you can’t forget this year’s limited recourse borrowing arrangements, they have been in the media regularly and I think this year we have covered that as well from the technical side of things and how things are going forward.
So that’s roughly what the conference will be about, pretty interesting, a range of topics available to people, available to professionals including auditors, accountants and financial planners in the self managed superannuation funds space.
On the brink: Generalist planners told they'll become extinct
A growing number of industry commentators say the days of the all-round financial planner are numbered, amid predictions market conditions will change rapidly. We speak to Sean Graham of Mills Oakley Lawyers and Terry Slattery of DFK Laurence Varnay for their thoughts on why specialisation will be the key to success in the future.