Dealer group expands offering in light of new SMSF licensing
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.