GPS Wealth picks up two new practices
Specialist financial services dealer group, GPS Wealth, has picked up a financial planning practice as well as an accounting firm in the lead up to the removal of the accountants' exemption on 1 July.
Brisbane-based medium-sized accounting firm, Romano Business Accountants, has gained a limited authority from GPS Wealth in order to continue compliantly providing advice on the establishment and winding up of self-managed superannuation funds (SMSFs).
Principal, Iolanda Romano, said the new regulatory framework for accountants drove the firm to find a reasonably-priced licensing solution.
"Under the new rules, I needed to complete additional training which I did through GPS Wealth before deciding to become authorised by them," Romano said.
"I'd looked at several other dealer groups but they were either focused on large accounting firms or represented low value for money."
Financial planning practice, dR and Associates, which has a referral partnership with Romano Business Accountants, has switched from insurance, financial planning and lending licensee, AIW Dealer Services, to become an authorised representative of GPS Wealth.
Despite SMSF advice comprising a very small part of Romano's business, and financial advice is referred to dR and Associates, Romano said the move to GPS Wealth allowed for future growth.
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