BGL and Ignition keep accountants in SMSF space

SMSF administration and compliance software provider, BGL Corporate Solutions has entered into a partnership with digital financial advice provider, Ignition Wealth aimed at increasing their reach into the accounting/self-managed superannuation funds sector by providing a licensing solution.

Under the arrangement, announced late last week, BGL’s Simple Fund 360 clients will get direct access to Ignition Wealth’s SMSF Appropriateness Guide product.

Commenting on the arrangement, BGL managing director, Ron Lesh said the Ignition Wealth SMSF Appropriateness Guide allowed accountants who did not have an AFSL to maintain their status as the key relationship holder and trusted adviser.

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He said accountants who registered would be instantly set up with a digital advice portal branded with their company logo and company identity with training then being provided.

Ignition Wealth head of sales and marketing, Richard Liverpool said fees were paid per client and were only payable when the client’s Statement Advice was produced.

“A key advantage of the Ignition Wealth hybrid digital advice solution is that it is easy to use, scalable and is ready to assist the large number of SMSFs that require advice,” Lesh said.

Ignition Wealth investor and founder of Count Wealth Accountants, Barry Lambert said he believed the arrangement represented a win for both the account and their SMSF client.

"Not only does the BGL and Ignition Wealth partnership reduce SMSF costs but it also keeps non AFSL Accountants in control of their SMSF Tax Clients,” he said.

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This style of doing business is a disgrace to the industry.

Trying to keep unlicensed people as "the trusted adviser" when they were too lazy or inexperienced to get licensed in the first place.

All in the name of making a few $$$$$

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