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

 

The exemption for accountants offering strategic advice to their SMSF clients (i.e. recommend setting up or winding up an SMSF) has been formally removed

Effective 1 July 2013, the Government has introduced new legislation that will require accountants who provide strategic advice to SMSF clients to become licensed to provide this advice. A three year transition period will apply.

The new legislation proposes a “streamlined process” for accountants to apply for their own Australian Financial Services Licence (AFSL). It does not contemplate the alternative option to become an authorised representative of an existing licensee.

Accountants who provide strategic advice to SMSF clients (e.g. contributions strategy, lump sums, pensions) will need to determine how best to meet the Government’s requirement to be licensed. The legislation has the support of the major political parties and is therefore unlikely to be repealed if the Government should change later this year. For a detailed overview of the new regulations, please click this link


Decision Time

For accountants who provide strategic advice to SMSF clients, you will need to consider four options:

  1. Apply for your own financial services licence
  2. Become an authorised representative of an existing financial services licensee
  3. Take no action by refraining from providing SMSF advice to clients
  4. Take no action by refraining from providing SMSF advice to clients


What next?

For a confidential, no obligation discussion about your options and assistance with making the right decision for your practice, please contact us:

Phone: 02 8006 0040
Emailenquiry@accountablefg.com.au

Financial Services Guide Privacy Policy Contact us