Peter Burgess

The more than 350 SMSF professionals who attended the two-day SMSF Association Technical Summit in Sydney this week went away armed with comprehensive strategies and enhanced industry knowledge to take back to their clients.

The Summit, which brought together recognised industry leaders to address delegates in keynote and technical sessions as well as practical workshops, again demonstrated why it is one of the premier technical events on the SMSF calendar.

SMSF Association CEO Peter Burgess said the strong numbers, in person and online, were a testimony to the importance SMSF specialists placed on maintaining the highest industry standards.

“Considering our superannuation sector is riddled with complex law, active regulators, shifting legislative changes and trustees with unmet advice needs, there is a tremendous opportunity for firms with specialised knowledge to make a difference – and this Summit is integral to this.

“It’s why all sessions and workshops were highly technical and targeted to engage SMSF specialists with a thirst to be the best. Attendees were highly engaged, with the many questions asked indicative that even the most experienced SMSF professionals had more to learn.

“Whether it was Professor Melinda Edwards, Managing Director at Ethics Advisory Services, addressing the future impact of AI in financial services or Shelley Banton, the Head of Education at ASF Audits, on the intricacies of accurately valuing SMSF assets, delegates accessed the best thinking on such issues in a thought-provoking way that can only add value to their businesses.”

Burgess said it was extremely heartening to hear Investment Trends Head of Research Irene Guiamatsia inform attendees how SMSF specialists – defined as a practice with more than 20 SMSF clients – had increased their profitability over the past year.

“Investment Trends’ research demonstrated that specialists had gained from increasing their initial upfront fees to clients and not using them as a loss leader to be recouped later.

“She said that on a net basis all SMSF advisers seemed to have seen more of a revenue increase than decrease, but it was much more positive for SMSF specialists.

“This evidence from a respected research house goes to the core of the Association’s argument that SMSF specialisation reaps commercial and professional benefits.”

Burgess said other sessions that captured the delegates’ attention were the workshop presented by Craig Day (Head of Technical Services, Colonial First State) and Linda Bruce (Senior Technical Manager, Colonial First State) who examined planning and managing personal injury, temporary or permanent, when the unexpected happened.

“Jemma Sanderson (Director, Cooper Partners Financial Services) focused on live cases to understand how best to manage the smooth wealth management and succession planning within blended families.”

The Summit concluded with Cooper Grace Ward partner and SMSF Association chair, Scott Hay-Bartlem, presenting a captivating session on what SMSF professionals should be doing during the death benefit planning stage to manage conflicts and ensure nominated beneficiaries receive their intended benefits in the most tax effective manner

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Peter Burgess

The SMSF Association 2024 Technical Summit, a premier technical event on the SMSF calendar, will focus on enhancing and improving the expertise of professionals dedicated to delivering high-quality retirement solutions to their clients.

The Summit, being held on 24-25 July at Sydney’s Hyatt Regency, features a curated program of interactive workshops and sessions on a range of technical issues critical to SMSF specialists.

SMSF Association CEO Peter Burgess emphasised the importance of bringing the industry together to explore strategies and share knowledge that upholds the highest standard in our industry. “The Technical Summit is an essential event for SMSF professionals committed to providing quality advice and staying at the forefront of industry developments.

“This year’s event promises to deliver an unparalleled lineup of workshops designed to enhance the knowledge and skills of professionals across the financial planning, accounting, legal, and auditing sectors.”

Managing Director at Ethics Advisory Services, Professor Melinda Edwards, will bring a thought-provoking perspective to the Summit with her workshop on ethical dilemmas and the future impact of AI in financial services.

Head of Education at ASF Audits, Shelley Banton’s workshop will help guide professionals through the intricacies of accurately valuing SMSF assets and Tim Miller, SMSF Technical & Education Manager at Smarter SMSF, is set to deliver an interactive workshop testing long standing contribution strategies in a post Div 296 environment.

In a joint workshop, Craig Day, Head of Technical Services, Colonial First State, and Linda Bruce, Senior Technical Manager, Colonial First State will take a holistic look at the minefield of superannuation issues that need to be understood when protecting clients from the risks associated with becoming permanently incapacitated.

Director, Cooper Partners Financial Services, Jemma Sanderson’s workshop will delve into the complexities of handling SMSFs within blended families and Leigh Mansell, Director SMSF Technical & Education Services, Heffron, is set to deliver a comprehensive workshop, focused on managing SMSF death benefits.

In addition to these workshops, we have assembled an expert lineup of speakers, all of whom are industry leaders and need no introduction. Renowned speakers such as Bryce Figot, Special Counsel, DBA Lawyers, Louise Biti, Director, Aged Care Steps, Melanie Dunn, Principal, Accurium and many more will impart their wealth of knowledge on attendees, whether they join virtually or attend the Summit, in person.

This year’s Technical Summit will also be top and tail-ended by keynotes from two of our most popular presenters.  Peter Burgess will kick off with his fast paced update on the latest legislative changes, sharing first hand insights on the SMSF Association’s Division 296 advocacy efforts, Whilst, Scott Hay-Bartlem, Partner, Cooper Grace Ward, is set to deliver the closing keynote with his signature flair,  addressing  strategies to resolve  death benefit disputes.

Burgess concludes: “This year’s Summit promises to be a dynamic and invaluable event for SMSF professionals, offering a unique opportunity to stay ahead of legislative changes, enhance technical expertise and network with industry peers.”

Significant savings are still available, with Early Bird pricing ending this Friday 23 June. Don’t miss the opportunity to buy at this great rate, connect with industry leaders and gain insights from a wide range of industry experts this July.

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Peter Burgess

There is no shortage of complex issues confronting SMSF specialists, from legislative changes, ATO rulings, the rising cost of living pressures to technological advancements such as ChatGPT, impacting on their businesses and clients.

With all these issues, and more, on the agenda at the SMSF Association’s highly anticipated Technical Summit, being held on July 26-27 on the Gold Coast, Association CEO Peter Burgess says it makes for a compelling argument for all SMSF specialists to attend.

“With the focus on ‘Advanced Professional Development’, it allows for industry experts to share their knowledge on how to respond to these challenges and the impact they have on their clients.

“We are thrilled with the line-up of speakers this year, with professionals seeking an understanding on how these changes will affect them.

“As a result, much of the program revolves around workshops that allows for an open, interactive conversation and for attendees to not only learn from highly reputable speakers but from one another.”

With the widespread negative ramifications of the Government’s proposed $3 million cap on super balances becoming increasingly clear, Burgess will use his opening address at the Summit to critically dissect this new tax and the recently released draft amendments to non-arm’s length expense rules.

Following this address, a keynote discussion from Heffron Consulting’s Meg Heffron will adopt a future planning perspective, exploring how the proposed $3 million cap on super is expected to affect the SMSF sector and members’ retirement savings.

Heffron will examine the potential impact the new tax will have on how SMSF members choose to contribute, invest their retirement savings and how they manage estate planning.

To assist in identifying which clients are likely to be affected by the $3 million super cap, DBA Lawyers Special Counsel Bryce Figot will deliver a workshop delving into core concepts such as Total Super Balance (TSB) and Transfer Balance Cap (TBC).

This highly technical workshop will address a myriad of interrelated issues, such as the indexation of thresholds, the impact of structured settlements and limited recourse borrowing arrangements plus much more.

Aligning with the overarching theme of thinking forward and future planning, Colonial First State’s Craig Day is set to close out day one with a case study driven workshop on the plethora of contribution opportunities available and the associated challenges.

The impressive line-up of keynote speakers on day two of the Summit includes View Legal’s Matthew Burgess who will use his learnings over the past 36 months as a case study to give actionable ideas and unpack the consequences of professional service firms (PSFs) harnessing the opportunities associated with AI enabled solutions, such as ChatGPT.

Cooper Partners’ Jemma Sanderson will open the afternoon with a focus on case studies on the different types of benefit payments and the importance of understanding how the super and tax laws interact.

Burgess concludes: “An area we have noticed members asking for is case studies and real-life examples on how to manage these changes in volatile times. As a result, many of the sessions not only include a presentation but case studies in alignment.

“In total six technical workshops, four keynotes and four technical sessions will be presented across the two-day Technical Summit, so we are excited with how this year’s agenda will challenge our industry experts and leaders.”

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