Wondering about your Licencing options?

The “Accountants Exemption” runs out on at June 30th 2016 – what does this mean? The core of the change is that Accountants will no longer be able to advise clients to set up a SMSF or the process of setting up Self Managed Super funds, benefits and dis advantages etc. 

The change really is just a clarification / strengthening of the law in an area that has sat for some a bit uncomfortably as you need to be a licensed financial adviser and follow strict process’ to advise on superannuation yet SMSFs live primarily with Accountants and many Accountants currently advise their clients on setting up Self Managed super funds as well as investment decisions of the fund. (also really requires a license!)

To use here are Vivid this seems like a good idea, the area of SMSF advice has been plagued with un ethical and sometimes downright illegal operators for too long (both Accountants and Financial Advisers), hopefully this is the first step in fully regulating and cleaning up this area.

If you are an Accountant and you want to keep providing advice after June the 30th 2016 you need to get qualified now so you can keep providing advice, at Vivid we have over 20,000 clients in our Accounting practice so we understand how Accounting practices work, we also have SMSF Auditors and Strategy experts as part of our team so we know this space well.

If you want more information about Accountant Licencing or Vivid generally please contact us below