Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
CPA still bullish on licensing offering

CPA still bullish on licensing offering

Katarina Taurian
31 March 2016 — 1 minute read

CPA Australia Advice is confident it can operate alongside “the big financial institutions”, despite not being fully operational yet.

In June last year, CPA Australia announced it would establish a new wholly-owned subsidiary to provide independent financial advice to Australian consumers.

CPA’s chief executive Alex Malley told SMSF Adviser yesterday the establishment process for CPA Australia Advice is ongoing and he expects it to be operational by 1 July this year.

Advertisement
Advertisement

“CPA Australia Advice will not process applications from any prospective authorised representative unless ASIC grants the AFSL and ACL licenses. We expect to receive advice from ASIC in this regard in the near future,” he said.

Mr Malley said feedback from members has been “extremely strong”, particularly following a recent six-city tour around Australia.

“We know that the big financial institutions, some of the biggest companies in Australia, dominate this sector, but we believe Australian consumers seeking financial advice deserve a fully transparent and independent alternative,” he said.

“As I said when we launched CPA Australia Advice Pty Ltd last year, we go into this with our eyes wide open.”

Read more:

ASIC issues stern enforcement warning to accountants

Delays for new LRBA guidance ahead of deadline

New role for key SMSF figure in ATO

Employment for accounting sees steady rise

Govt urged to consider changes to death benefit payments

CPA still bullish on licensing offering
default
smsfadviser logo
join the discussion

When do you plan to undertake the exam under the new adviser education standards?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.