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Top 5 Tips with Licensing

Monday, November 13, 2017

Last week, we explored some of the many challenges with licensing. However, all indications are that licensing is here to stay if you want to operate in the advisory space. So we asked our clients to share their tips to make licensing work. Here are their top 5. ...Read More

Top 5 Challenges with Licensing

Monday, November 06, 2017

There is no doubt that the introduction of Limited Licensing has brought its fair share of challenges for accountants. As we are more than a year into the regime and the dust is starting to settle, we thought it was timely to explore the issues these licensed accountants are grappling with. ...Read More

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.
 ...Read More

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

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