One dealer group has announced it is expanding its licensing offerings in light of the limited licensing regime which begins in 2016.
Libertas Financial Planning has approximately 30 advisers operating as authorised representatives under its AFSL and has recently expanded its offer to include accountants, who require an AFSL from July 2016.
Director Mark Euvrard said Eagle Financial is the first accounting firm to join the dealer group.
“We have been preparing for this for some time to provide a facility for those accountants seeking an independent/non institutionally aligned or owned dealer group,” said Mr Euvrard.
So far, the take-up of the new licensing regime by accountants has been underwhelming.
Treasury has estimated that about 10,000 accountants would apply for the limited licence, the IPA’s Vicki Stylianou told SMSF Adviser. So far, approximately 20 to 30 have obtained a limited licence.
However, Ms Stylianou said this figure may improve “dramatically” once accountants realise that the requirements for applying for a limited licence are not as onerous as they were at the beginning of the transition period.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 24 Aug 2017Critical disclosures flagged for US expat clientsBy Miranda Brownlee
- 23 Aug 2017'No apparent benefit' in ATO position on ECPIBy Katarina Taurian
- 23 Aug 2017Transfer balance cap confusion posing risks for practitionersBy Miranda Brownlee
- 23 Aug 2017TBAR reporting tipped to expose illegal adviceBy Miranda Brownlee
- 22 Aug 2017Contentious views on segregation locked inBy Katarina Taurian
- 22 Aug 2017Contributions spike for 2016-17 financial yearBy Staff Reporter
- view all
- Transfer balance cap confusion posing risks for practitioners
Confusion around certain aspects of the transfer balance cap could be leading some practitioners to provide advice to clients based on premi...read more
- view all