AMP/PwC to launch accountant dealership
AMPandPricewaterhouseCoopershave combined to launch a new dealer group catering to the specific needs of chartered accountants considering expanding their service offerings to encompass financial planning.
The new group, which will be unveiled next Thursday by the two groups, is the second time the two organisations have been involved in creating a new business - back in 2002Arrive Wealth Managementwas born out of AMP’s purchase of PricewaterhouseCoopers Financial Planning.
According to AMP the new dealer group, which arrives at a time of significant industry debate over the degree of advice accountants should be able to offer, will provide an opportunity for chartered accounting firms to widen their service offers to existing clients.
The group will use a “business in a box” approach for accounting firms to establish a financial planning practice within their organization, and will act as an authorised representative through an Australian Financial Services Licence (AFSL) so that sign-up firms will be Financial Services Reform (FSR) Act compliant.
Chartered accountant groups will be provided with a wide recommended list for portfolio construction and research prepared by an independent investment consultant.
Sign-up accountants will also have access to professional indemnity (PI) insurance cover (subject to approval) through AMP's central PI provider.
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