IPA partners with Capstone

Non-aligned dealer group Capstone has teamed up with peak accountancy body the Institute of Public Accountants (IPA) as the deadline approaches for the removal of the accountants' exemption next year.

The move comes as accountants start thinking about attaining an Australian financial services licence or operating under one by 1 July 2016 if they want to provide self-managed super fund financial advice.

IPA said it is pleased with the partnership and for Capstone to bring financial advice authorisations to their accountant members.

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Capstone provides services including professional compliance standards, technology, marketing communications, training and development.

"Our authorisation options and support services are more likely to appeal to accountants who prefer an alternative to licensees that have bank or institutional ownership," managing director Grant O'Riley said.

Around 50 per cent of accountants looking to get a licence have failed their application, and only 50 licenses have been granted by the corporate regulator thus far, according to Know Compliance licensing specialist Frank Varga.

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