Former BT Select practice licensed with GPS Wealth
Former BT Select practice, Burke, Chalk and Ball (BCB) Financial Planning, has chosen to be licensed by non-institutional dealer group, GPS Wealth, as it looks to strike additional referral agreements with accounting firms who want to partner with non-aligned practices.
BCB Financial Planning, which is affiliated with BCB Accountants and Business Advisors, made a referral arrangement with accounting and tax specialists, J&C Accountants, in May.
BCB director, Adam Chalk, said GPS Wealth had a range of client engagement, practice management, and advice tools.
"Accounting and financial planning are highly complementary, and BCB's accounting partners recognised it was important to take a holistic view of a client's life and situation, not just their tax," Chalk said.
"GPS Wealth understands the enormous opportunity that accountants have to expand their value proposition and boost client engagement by offering financial services."
The agreement came as the 1 July deadline for the scrapping of the accountants' exemption on licensing to provide advice on self-managed superannuation funds loomed ever closer.
Commonwealth Bank research showed accounting firms wanting diversified revenue growth were looking to wealth management and financial planning, particularly by the smaller scale accounting firms.
AUTHOR
Malavika Santhebennur
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