Accountant licensing changing planning landscape

Yet another relationship has been announced facilitating accountants being able to provide self-managed superannuation funds (SMSF) advice after the removal of the accountants' exemption, this time between the Tax Institute and Capstone Financial Planning.

The arrangement, announced this week, has served to underline the degree to which the removal of the accountants exemption is changing the geography of the financial planning industry and follows on from the licensing offers being provided by groups such as Count Financial and Premium Wealth Management as well as CPA Australia's advice play, CPA Australia Advice Pty Ltd.

Capstone's arrangements with the Tax Institute follow on from a similar agreement with the Institute of Public Accountants to provide authorisation solutions to accoutants.

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Under the arrangements agreed between Capstone and the Tax Institute, members of the institute will be provided with access to "authorisation solutions and access to the information and resources they need to make an informed decision for their business and advice needs".

The formal announcement said the alliance would see Capstone facilitate SMSF Authorisation information and education sessions for members in Sydney, Melbourne, Adelaide, Brisbane and Perth during September and the formation of a dedicated Accountants' Support Team to assist members to obtain their authorisation.

Commenting on the latest arrangement, Capstone managing director, Grant O'Riley said he believed his firm was one of the few national providers that provided accountants with a ‘one stop shop' for all their authorisation and business support needs.

"Unlike other providers, we are not aligned to any bank, fund manager or financial institution and from our discussions, this is a quality that many accountants value," he said.




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