The move represents Lonsdale’s commitment to encourage professional standards in light of the FOFA regulations, according to chief executive Mark Stephen.

“Professional standards that have an independent tick of approval and raise adviser competency will be critical over the coming years as we continue to see the SMSF sector evolve,” Mr Stephen said.

“We are committed to continually raising professional standards by ensuring that the training, accreditation and education that Lonsdale planners get is at a significantly higher level than that required by ASIC.”

SPAA chief executive Andrea Slattery believes this commitment by Lonsdale is indicative of where the SMSF advice industry is heading.

“Recent SPAA-Macquarie research validated the emergence of an SMSF professional who is focused on the importance of continually lifting professional standards,” she said.