SMSF documentation provider NowInfinity confirmed last year that the Mr Abbott had officially left the business following a restructure of its executive management and business operations.
Mr Abbott told SMSF Adviser that since leaving the company, he has established a new business, I Love SMSF, which provides training seminars and webinars to SMSF practitioners.
The business also provides client communication material for advisers to distribute to their clients.
“After the government made the changes last year, what I did was take a step back and I got out of NowInfinity and I’ve just been writing my book which has just been finished now,” Mr Abbott said.
He said the time away from NowInfinity gave him room to “read and dissect the 500 pages of legislation and explanatory memorandum”, adding that he will conduct two training days this year.
He also flagged plans to re-enter the SMSF document market in the next two years.
“I’ve got a non-compete clause for a year or two, [but] I’m itching to go out and set up a brand new SMSF trust deed that fits in with the new laws.
“When you get new laws, you have to go back and change the whole process again. So I’ll probably be bringing one out in a year or 18 months’ time.”
What is the who, what, when and where? Isn’t NowInfinity still run by his wife?
Really “I got out of NowInfinty”… is that how he’s trying to promote it, trying to make it look like it was his decision??? Everyone knows who, what, when and where! Why make it look like it was a strategic decision that implies NowInfinity has issues?