Accountable Financial Solutions ("Accountable‟) is a new concept in the financial services and accounting markets. Accountable is a financial services business specifically tailored to meet the needs and aspirations of accountants and tax advisers in practice.

Accountable provides an exclusive and trusted home for accountants seeking to be licensed to provide advice to their clients, particularly to their SMSF clients.

We also guide and help accountants in practice to design and build a successful financial services business within their accounting practice.

Advice Licensing Options

Accountable offers a three levels of licensing options:

  • Self-Managed Superannuation Fund Advice
  • Personal Insurance Advice
  • Investment Related Advice
The base level of advice offered is limited financial advice on SMSFs. Depending on the level and range of advice you would like to offer your clients, you can choose to also offer insurance and investment advice.

We will assist you to structure your advice options to suit your practice and client needs.

 



Accountable Financial Solutions Pty Ltd ACN 146 520 390 Australian Financial Services Licence no. 409424
 

Shorten announces alternative to Accountant's Exemption from 1 June 2013

In a press release issued 23 June 2012 by the Hon Bill Shorten, Minister for Financial Services & Superannuation, it was announced that the transition to a new limited Australian Financial Services Licence (AFSL) will start from 1 July 2013.

In summary, this is what accountants will be required to do:

  1. Comply with the relevant training requirements prescribed in Regulatory Guide 146
  2. Be an authorised representative of either a current AFSL holder, such as Accountable, or the accountant applies for their own AFSL and meets ASIC’s licence regulations
  3. Be authorised to provide advice on Self-managed superannuation funds (SMSFs) including pensions
  4. Be authorised to provide "class of product" advice on:
    • Superannuation products
    • Life insurance
    • Simple managed investment schemes
    • Securities
    • General insurance
    • Basic deposit products
Transitional period applies

The new AFSL arrangements for accountants will apply from 1 July 2013 and will continue through a three year transition period ending 30 June 2016. The Accountants’ Exemption, allowing you to say no more than "I recommend you setup a SMSF", will continue in its current form until 30 June 2016.
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