SPAA announced yesterday it will now be known as The SMSF Association (SMSFA).
At the time of the announcement, chief executive of SMSFA Andrea Slattery said the change in name represents the association’s “all-embracing” place in the SMSF sector.
"It's critical that the organisation has a name that reflects the importance of the SMSF sector and the breadth of its membership,” she said.
Despite speculation these comments are suggestive of and represent a broader shift in corporate direction for the association, Ms Slattery stressed to AccountantsDaily’s sister publication SMSF Adviser there is no change to the organisation's strategic plan.
“There is no mischief in this, it’s just an evolution and a way in which people can actually intuitively find specialists and intuitively find an association to represent them,” Ms Slattery said.
When asked if trustees would now be targeted by SMSFA, Ms Slattery said “there is no change to what we’ve always done.”
“We do not have trustee members,” she said. “We have always represented the industry, we have always represented every community in the sector at an advocacy level [and] at every level, but our members are the professionals.”
SPAA member and Quantum Financial principal Tim Mackay took to social media to raise questions about the process behind the move.
“Don’t know what it means to be honest. Doesn’t feel like they’ve brought the members with them on this – if there was a call for member discussion I don’t recall it,” Mr Mackay wrote in a public statement on LinkedIn.
“Maybe a good call but you could argue it’s a captain’s pick,” he wrote.
Mr Mackay later posted on social media, "To clarify, I actually think name change a smart move. But I see no downside to having conversation w/ members about their oganisation first."