The SMSF Advisers Network or SAN is an Australian Financial Services Licence (AFSL) that is owned and operated by the National Tax and Accountants’ Association. Its main purpose is to support and help accountants improve the quality of service and advice they provide to their clients.
Since July 2016, accountants have been required to be licensed under an AFSL in order to give advice in relation to Superannuation and Self Managed Super Funds (SMSF). This has left many accountants unable to service their existing clients unless they obtain a full licenced ASFL.
The SMSF Advisers Network AFSL allow its members to advise clients not only on the set-up of an SMSF, but also the change to the pension, the establishment of Limited Recourse Borrowing Arrangement (LRBA) structures as well as specific contribution levels, rollovers and the provision of an asset class investment strategy based on the individual member’s investor risk profile.
The process for becoming authorised is involved. This ensures you and other SMSF-ers receive the best advice from a qualified professional. That’s peace of mind for you – and I guess, peace of mind for us too. We want to raise the bar in the industry and protect people’s financial wealth.
The process involves:
- completion of a course (in some circumstances – depending upon accreditation level)
- digital written applications with supporting documentation
- phone interviews
- Police Checks
- Bankruptcy Check
- signing an Authorised Representative (AR) agreement
- registration with ASIC under the SMSF Advisers Network (SAN) AFSL
DBA Accountants are an authorised representative of the SMSF Advisers Network and have years of experience advising clients on how to improve their superannuation and secure their future, without compromising on their present.
We’d be delighted to help you with your SMSF or answer any questions you have about superannuation. Simply call us today to chat with one of our friendly team members.
