The integration between Class and automated advice provider A.S.A.P is aimed at enabling unlicensed accountants to continue giving exempt tax advice and ‘execution only’ services to SMSF clients with minimal disruption, the two companies said.
A.S.A.P chief executive Jim Hennington said A.S.A.P is a purpose-built digital advice suite that can replace the product advice accountants gave under the former exemption.
“We estimate that each year a quarter of SMSFs will need written product advice to support the transactions accountants help with, including set-ups and pensions. The integration with Class makes it simpler for accountants to adhere to their increased licensing rules, using technology to drive down the cost and maximise ease of use,” Mr Hennington said.
Class CEO Kevin Bungard welcomed A.S.A.P. as a Class partner.
“Our integrations with automated advisers are a prime example of how cloud-based SMSF administration opens up valuable, complementary service add-ons for accountants,” Mr Bungard said.