The Self-managed Independent Superannuation Funds Association (SISFA) has revamped its offering to SMSF trustees, including repricing the membership fee for this cohort and committing to providing more services tailored for them.
SISFA chief executive Michael Lorimer said the change to its trustee offering stems from the industry body’s recognition people running their own super fund required more focused representation.
“Alongside its advocacy efforts, for some time now SISFA’s focus has been to build a network of like-minded professionals in the SMSF sector to stay informed of technical and policy issues and provide a forum for the exchange of ideas,” Lorimer said.
“While this has been successful, it has become noticeable that the needs of 1.1 million SMSF members extend beyond supporting the professionals on whom they rely for advice and expertise.
“SISFA has long debated how to better support these individuals who are essentially ‘running their own money’, with or without a professional adviser, and often do not have all the know-how to protect their nest eggs.
“The financial services sector has taken them for granted and often only taken their own industry agendas to regulators. They have not ignored trustees, but rather thought that their agenda would also cover the needs of trustees without involving them in the discussion.”
SISFA membership will now cost SMSF trustees $48 plus GST and will give them access to educational content, experienced practitioners, seminars and webinars with its partners and regular newsletters.
What’s more, in an exclusive arrangement with this publication, the industry body is offering smstrusteenews subscribers membership at halfprice – $24 plus GST.
Further, SISFA’s lobbying activities on behalf of trustees will be enhanced to more accurately represent their concerns and circumstances.
Trustee members will also be provided with the ability to participate in opportunities often restricted to wholesale investors, such as public offer superannuation funds, through SISFA’s commercial partners.
The industry body noted its national presence placed it in a good position to expand the services it affords trustees.