…y 2017. I suspect all advisers will have clients for whom this information is relevant and many client might want to make large NCCs before 1 July 2017. We will hold a webinar on Friday explaining how to conveyance this information — and much more — to clients given the new AFSL regime. To register [read more]
…-licensed accountants — for accountants that have not elected to obtain an AFSL or become an AR of an AFSL holder: As accountants in this category cannot provide clients with financial product (‘FP’) advice or related financial services, we have prepared a comprehensive set of template communications that can be used in relation to execution [read more]
…ed AFS licence and who are not becoming an authorised representative of an AFSL holder, it will become vital to properly handle SMSF matters. Naturally this particularly impacts accountants. We are putting the finishing touches on our Non-Licensed (AFSL) SMSF Advisers Kit. This kit is designed to assist advisers who are not obtaining a limited [read more]
…cess. Where an adviser is an authorised representative of another entity’s AFSL, they are subject to the EDR for that AFSL holder, eg, FOS. This article provides a brief overview of how FOS operates in relation to financial advisers; especially those who may have recently obtain a limited AFSL or become an authorised representative in [read more]
…ets. AFSL considerations Naturally, accountants need to be very mindful of AFSL considerations. However, there is a joint statement from CPA Australia and CAANZ that an accountant (ie, one who does not enter the AFSL ‘space’) can nevertheless make recommendations regarding a corporate trustee versus individual trustees for an SMSF since discussing the benefits of [read more]
…re made to transition to this new requirement. Advisers who do not hold an AFSL should therefore consider whether they will need to adjust certain aspects of what they are currently doing in the future in view of this proposal or engage someone with an AFSL. Some banks already insist on an independent financial adviser [read more]
…nancial advice unless they hold an Australian Financial Services Licence (‘AFSL’), so they will need to exercise extreme caution. Merely advising an employee of more appropriate choices may constitute the provision of financial advice. Advisers who do not hold an AFSL also need to be careful. Certain ‘recognised’ accountants only have limited relief if they [read more]
