Licensees

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Licensing for Accountants has an extensive background in accounting and financial services licensing issues, and understand the opportunities and challenges licensing presents. We do not hold an Australian Financial Services Licence (AFSL) to ensure that we remain independent.

Licensee Matching Service

The new licensing regime presents significant opportunities for the advice industry to extend its networks and services.

Our Licensee Matching service is open to any licensee with an accountant authority and application fees have been waived till 30 June 2015.

The Licensee Application and Review Process

Application Process

Any licensee with an authority for accountants is welcome to apply to become part of the matching service.

The application process involves:

  • Completing a detailed application form
  • Submission of key supporting documents (eg: scope of authority, appointment documentation, advice guidelines)
  • An interview with the licensee Reference checks
Compliance Review

The compliance review process assesses if the licensee is deemed to have a low or high compliance risk. The higher the compliance rating, the more likely it is they will be exposed to an adviser doing the wrong thing, or that ASIC will have concerns, should they ever be audited.

The areas covered in the compliance review are:

  • Background checks to ensure the licence is on the ASIC register
  • The process for reviewing and auditing advisers
  • What rules and guidelines are in place for advisers when providing advice
  • The controls in place for managing the customisation of advice templates
  • Confirming membership of an external dispute resolution scheme
  • Confirming what PI arrangements are in place
  • Confirming compliance and risk management frameworks
Licensee Offer Review

This licensee offer review seeks to understand the unique features of the licensee offer, and assess the strengths and weaknesses of the operational and practice management support.

The review covers:

  • Training & CPD
  • Branding and marketing support
  • Research
  • SMSF technical capability
  • General technical support
  • Paraplanning
  • Software and templates
  • Practice management support
  • Transition support
  • Accounting specific support
Licensee Summary Report

A 2-3 page summary report is prepared for each licensee.

The report provides:

  • Key information about the licensee and their offer
  • An overall review of the offer
  • A summary of the compliance review, and a rating
  • A review and rating for each of the licencee offer areas

Licensees are not able to change the commentary or ratings on this report. However, they do have the option to withdraw from the process if they are uncomfortable with the process or outcome.

Customised Support

We recognise that accountants have different needs to traditional advisers. If you have an existing offer, or are looking to develop one, we can work with you to develop training and support programs to recruit accountants, or assist in customising your existing offer to meet the needs of these advisers.

For more information, please contact Head of Operations, Eloise Ramke at eloise@L4A.com.au or call 1300 930 328

Contact our team today

We believe accountants make great advisers. Let us help you incorporate licensing into your business, without being driven by it.

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