The licensing exemption was removed which allowed accountants to provide personal advice, including SMSF advice without the need for an AFSL. This, as we know happened, in July last year, so how do you help clients who still have SMSF needs? How do you give referrals but also stay compliant?
In this short webinar, Ignition Wealth’s Head of Sales and Marketing Richard Liverpool was joined by Licensing for Accountants’ CEO Kath Bowler to discuss what accountants can and cannot do when their clients wish to discuss their SMSF needs.
Kath is one of Australia’s leading authorities on licensing for accountants. With 20 years of experience in the accounting and financial services industry, including executive roles at both CPA Australia and AMP, she brings a wealth of knowledge in this somewhat tricky and sensitive.
She has worked as a regulator, financial adviser, accountant, policy adviser, consultant and as the head of a licensee. Kath brings these roles together to work with accountants, helping them to expand into financial planning.
Richard began his career as a financial accountant, expanding to areas such as business management, practice development, marketing, licensing and a financial recruitment role. He joined Ignition Wealth in 2016.
In this 15-minute webinar SMSF Advice For Accountants – It’s A Fine Line, Richard and Kath speak about challenges between what is giving advice what is factual information as well as articulating the art of referring your client to an advice firm for their SMSF advice needs
Kath says there needs to be a change in how accountants are having these important client conversations. Kath says accountants must master the art of scoping and choose whether you are in or out? You are licensed or you are not? You are going to give advice or you are not?
The webinar covers the questions you need to know:
Is there an obligation by the accountant to refer the client to a financial adviser to give advice?
What is the client asking?
Do clients want advice or just facts?
What does it mean to be dealing in a financial product?
Are you giving advice or wanting to give advice?