Accountants offered another AFSL option
Accountants do not want to ‘go back to school' to secure an Australian Financial Services Licence (AFSL) to continue to provide advice to clients with self-managed superannuation funds, and are looking for alternative solutions ahead of the removal of the accountants' exemption, FPT Wealth believes.
Offering another option to securing their own AFSL, FPT Wealth director, Tony Bates, said the company would enable accountants to outsource the delivery of high-end financial advice to FPT WealthBox, without having to undergo RG 146 education.
"FPT WealthBox is a credible answer for accountants who do not wish to become licensed planners, but want to retain their key client relationships," he said.
Bates said the appointment of former president of the Institute of Chartered Accountants of Australia, and founding director of Smithink, David Smith, as chairman of the business, would boost uptake of the service.
"David has had a long and distinguished career working with the accounting industry, including a partner role at PKF (now BDO)," he said.
"As our limited licensing solution for accountants, FPT WealthBox, gains further traction, we believe David's extensive experience and leadership will assist greatly with our growth and continuing market penetration."
AUTHOR
Nicholas O'Donoghue
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