SMSF member bodies confirm merger
Two associations that represent SMSF trustees have this afternoon confirmed they will be merging, pushing their collective pool of members to over 10,000.
With a view to form a “stronger united voice”, the Self-managed Independent Superannuation Funds Association (SISFA) and the SMSF Owners’ Alliance (SMSFOA) have merged.
The new body will be badged SISFA and it mission will be “speaking up for the one million Australians with SMSFs”.
Both bodies have been focused on representing the interests of SMSF trustees to the government.
SMSFOA executive director Duncan Fairweather said the body has had success in its lobbying efforts, but it was time to “move it to the next level”.
“What we need as an advocacy organisation is more strength in terms of expertise, and SISFA were a very good fit there because they essentially are closer to the coal face in terms of how policy applies,” Mr Fairweather told SMSF Adviser.
He said talks of a merger have been in place for approximately six months.
“Amalgamation into a single combined force and single effective voice will protect and promote the interests of Australians who have taken responsibility for managing their own retirement savings and generating their own income in retirement without focusing on the age pension,” the newly formed body said.
“During a long and complex debate regarding superannuation and the role of small and self-managed funds within the sector, our two organisations have realised our views are aligned on the ways to improve the fairness and efficiency of the superannuation system and the needs of members and trustees of self-managed funds.”
More to come.