Accountants have been forming exclusive referral relationships with financial planners over the last 12 months, according to a OneVue/Investment Trends report.
The SMSF Accountant Report shows 28 per cent of accountants prefer referring their SMSF clients to one “trusted source” as opposed to several planners.
In addition, 85 per cent of accountants have SMSF clients with investment related queries, the report stated.
“If accountants are going to encourage SMSF clients to engage with a new specialist, having a trusted relationship with that specialist is vital both in terms of client satisfaction and client retention,” said OneVue’s head of partner solutions Brett Marsh.
“With a number of mergers taking place between financial planning and accounting practices across the board, those that don’t offer an all-encompassing service for SMSF clients are seeing greater value in building alliances with trusted professionals in order to remain competitive.
“We see that there is a growing importance being placed on adviser and accountant relationships and it is something that service providers need to support and make simpler going forward,” Mr Marsh added.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 21 Aug 2016Risks flagged with real estate appraisal valuesBy Miranda Brownlee
- 21 Aug 2016Lawyer challenges ATO view on two fund strategiesBy Miranda Brownlee
- 18 Aug 2017ATO locks in details, addresses panic on real-time reportingBy Katarina Taurian
- 18 Aug 2017Data feeds unreliable for new reporting, says mid-tierBy Miranda Brownlee
- 18 Aug 2017Tax component confusion spurs potential tax liabilitiesBy Miranda Brownlee
- 18 Aug 2017Contributions triple in June quarter, survey showsBy Staff Reporter
- view all
- ATO locks in details, addresses panic on real-time reporting
The tax office has addressed several points of confusion with the new events-based reporting regime, locked in key deadlines, and outlined w...read more
- Data feeds unreliable for new reporting, says mid-tier
With an estimated 20 per cent of SMSFs still encountering errors from data feeds, one mid-tier firm believes the ATO should allow SMSF pract...read more
- view all