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More than 130 credit advisers are now enrolled in a Mortgage & Finance Association of Australia (MFAA) training program to obtain their MFAA self-managed superannuation fund (SMSF) lending accreditation.
This follows calls from the MFAA in September for its members to seek specialist education regarding SMSF lending to avoid being at risk of the Australian Securities and Investments Commission (ASIC) cancelling credit licences.
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Phil Naylor, MFAA’s chief executive, said he is pleased to see that so many brokers and their firms have signed up to the training program, as it represents a great opportunity for operators to expand their expertise and scope of service.
“More than 3,000 SMSFs are being established each month in Australia and, with the proper training, mortgage brokers have the opportunity to deepen their relationships with clients through managing the process of gaining a loan for clients’ SMSFs,” he said.
The training program involves a series of modules using a combination of audio and video sessions, assessments and learning checks, case studies, course notes and handouts, and ending with an optional workshop. Completing the program requires an average commitment of about 20 hours.
To encourage members to join and complete the program, the MFAA is offering a complimentary SMSF trust deed and bare trust, valued at $1,500 for the use of the member or their member's client.
