Midwinter has announced a partnership with independent firm, Licensing for Accountants, to provide compliance and technology advice for accountant limited license holders.
Licensing for Accountants chief executive, Kath Bowler, said the firm supported industry workers wanting to move between compliance and advice; a key component being support for the provision of access to advice templates and software to made advice processes more efficient.
“For licensed accountants, this means finding a simple and easy way to prepare statements of advice, records of advice and fact finds,” she said.
“Both licensed and unlicensed accountants need templates to document the conversations they are having with clients in an unlicensed capacity, to confirm that the advice or information doesn’t require licensing.
“We’re not trying to turn accountants into planners. We wanted to create a solution that was flexible, adaptable and would make licensing work for them.”
The partnership has developed a range of resources within Midwinter’s customised AdviceOS system, aimed at assisting accountants to meet the requirements of their licensing regime. These include a ‘Licensing Assessment Module’, an ‘Accountant Template Module’ and SOAs catering for simple information and advice.
Executive director of Midwinter, James Murphy, said he was confident the partnership would deliver benefits to both accountants and financial planners.
“We’re delighted to be working with Kath and her business to provide this tailored solution. These additional modules within AdviceOS – custom made with the requirements of limited licence accountants in mind, have been welcomed not only by the accountants themselves, but also by many of their financial planning referral partners,” he said.
“For quite some time now, our financial adviser clients who work closely with accountants have expressed a desire for Midwinter to create a package that would allow both parties to work off the same system. Now, through Licensing for Accountants, we have been able to offer this.”
