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Writing your first SOAs

Thursday, February 02, 2017

If you’ve recently become licensed or authorised, you are no doubt staring down the barrel of writing your first Statement of Advice (SOA).  This can be a daunting task – so daunting in fact that I have seen many licensed accountants avoid the task.  In some cases, that avoidance has been going on for years! ...Read More


Being Compliance Ready

Tuesday, November 08, 2016

Welcome to our new blog series for Limited Licence holders.  Each issue, we'll focus on a particular issue that accountants are grappling with in an attempt to make licensing work.

The focus for this blog is dreaded compliance.  I’m sure the mere mention of the word has already put several of you to sleep. However, having now helped many accountants implement the compliance requirements for Limited Licensing, I’ve realised that the majority of the requirements are just good business.
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Don’t let licensing be the mouse that sinks your boat

Tuesday, September 13, 2016

For anyone who has had children in the last decade or so, you may well have come across the book ‘Who Sank the Boat?’. In this children’s book, all the large animals carefully climb into the boat – the horse, the cow and sheep. But it is only when the mouse climbs in at the end that the boat sinks.  ...Read More


The consumers of tomorrow don’t want advice as it is provided today

Sunday, May 08, 2016

Traditional advice models are based on providing holistic, comprehensive advice to clients – where the adviser controls the advice and in particular, the implementation of that advice. This model only suits those who like to outsource advice to specialists, either because they don’t have the expertise, or they don’t have the time. So, it shouldn’t be a great surprise that only 30% of Australians’ currently receive advice - as only 30% of Australians are outsourcers. ...Read More


Roadblocks to licensing

Wednesday, July 22, 2015

We are now into the final 12 months before the accountants’ exemption is removed. And to date, I estimate that only a few hundred accountants have become licensed or authorised. Quite frankly, I’m astounded at how few accountants have begun their licensing journey.  However, based on my discussions with hundreds of accountants, I’m not surprised. Most practitioners are confused and are receiving different messages from various sources. No wonder it’s difficult to make a decision. ...Read More


How to become a licensed accountant and not a product flogger

Thursday, June 25, 2015

Hundreds of accountants have approached me in recent months regarding their licensing options and overwhelmingly each one says, ‘I’m not interested in licensing because I don’t want to recommend products’. With the accountants’ exemption due to expire mid-2016, and given the confusion surrounding this issue, it’s time to do some myth busting to help accountants make an informed licensing decision. ...Read More


Making an informed licensing decision

Tuesday, April 14, 2015

 All too often I see the following options presented for accountants when considering their options with licensing - Do nothing; Refer; Full AFSL; Limited AFSL or authorised representative. Erase this from your minds now and follow my simple three-step process to determine your options: ...Read More


Media Release: Help at hand for accountants' licensing exemption

Monday, February 16, 2015

 Licensing for Accountants, a specialist professional service firm was launched today to support and transition accountants into financial services licensing. The business will help accountants to seamlessly navigate the complex licensing regime brought about by Future of Financial Advice (FoFA) reforms. Specifically, Australian Financial Services Licensing (AFSL) impacts accountants who currently provide structural SMSF advice to their clients.

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Do I really need a licence? Four guiding questions

Monday, February 09, 2015

If you’re an accountant impacted by the changes to financial services licensing and are confused about your options, you’re not alone. You’ve no doubt been bombarded with phone calls, emails and seminar invitations from numerous companies offering a range of licensing solutions. You’ve probably received updates from your professional body and the new limited licensing solution from ASIC. However, before you even consider these options, you should take a step back and work out whether you need licensing at all. Once you’ve made this decision, then you can get down to the nitty gritty of the various licensing options. ...Read More


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