SMSF Online Update - 1.5 CPD hours
- SMSF Association
- CAANZ, CPA, IPA, NTAA, TTI, TPB and other professional bodies including numerous law societies around Australia - see self-assessed CPD note below.*
- FASEA **
* Self-Assessed CPD selecting appropriate CPD. These and other professional bodies rely on members selecting appropriate CPD self-assessing CPD activities. Generally, most award 1 CPD point per hour of formal instruction.
** Financial Adviser Standards and Ethics Authority ('FASEA') authorises licensees (ie, covered by an Australian financial services licence ('AFSL'))
to self-assess their approved CPD activities. This training counts as qualifying CPD if approved by an adviser's licensee.
AFSL advisers must complete at least 40 hours of qualifying CPD activity each CPD year that must include a minimum of:
- 5 hours in the CPD area of technical competence;
- 5 hours in the CPD area of client care and practice;
- 5 hours in the CPD area of regulatory compliance and consumer protection; and
- 9 hours in the CPD area of professionalism and ethics.
- technical proficiency and ability to develop and provide advice strategies that are appropriate to the objectives, financial situations and needs of different classes of retail clients (technical competence);
- ability to act as a client-centric practitioner in advising retail clients (client care and practice);
- understanding of applicable legal obligations and how to comply with them (regulatory compliance and consumer protection);
- capacity to act as an ethical professional (professionalism and ethics); and
- professional capabilities, knowledge and skills, including maintaining and extending participants' ability to keep up to date with regulatory, technical and other relevant developments (general).
- where the licensee approves the CPD activity (at least 70% of an AFSL adviser's training must be approved by their licensee); or
- the AFSL adviser's other CPD (up to 30% can qualify as CPD that is not specifically endorsed by their licensee).
For another article on different information pathways for FASEA, please click here.
Please note that our training is not accredited by the Financial Planning Association (FPA).
SMSF auditors must complete 120 hours of CPD over each 3 years, which must include 30 hours of development on superannuation and at least 8 hours of development on auditing SMSFs. DBA Network SMSF training count towards this CPD (apart from the 8 hours on development on auditing of SMSFs). Refer ASIC Regulatory Guide 243.
DBA Network SMSF training should count towards your CPD. However, please consult the criteria in your jurisdiction as certain CPD must be approved by your particular regulatory body.