Perpetual Private has called in the lawyers to help accountants navigate the new licensing regime.
Perpetual Private is offering accountants who access its so-called Accountants Partnership Program an element of legal certainty by announcing a partnership with Cowell Clarke Commercial Lawyers.
In doing so, it is arguing that accountants who find themselves up against the tightening time-frame of the new licensing arrangements should not feel they have to resort to the authorised representative model.
It said the arrangement with Cowell Clarke would support accounting practices who choose to obtain their own limited Australian Financial Services Licence (AFSL).
The arrangement will see accountants able to access the online portal, Cowell Clarke Connect, which will enable them to access ongoing legal advice, support and tools "to easily stay abreast of legal developments impacting compliance obligations".
Perpetual Private general manager, Professionals, Nathan Jacobsen said the partnership strengthened Perpetual's suite of support services and tools for accountants, and would help with the transition to the new licensing framework.
"The ongoing compliance support will greatly benefit accountants, many of whom might still be considering if managing a limited licence is right for their practice," he said.
"Given the tight timeframe for accountants to determine their licensing path, some may feel the only option they can take is to turn to the Authorised Representative model. This is not the case," Jacobsen said. "Today's announcement will help minimise the uncertainty of navigating the new market."