It’s not so long ago that we had to personally engage with customers to communicate, either via phone or face-to-face. Writing a letter was the last resort, it had to be delivered by the post.
The government and regulator should consider simplifying the production of SOAs and creating a separate SMSF adviser profession with its own compliance requirements, according to an advice software provider.
The accounting profession does not have to follow in the footsteps of the financial services industry and raise minimum education requirements, Treasury has been told.
The return of the accountants exemption is the first step to fixing the broken SMSF advice process, while the government and regulators should also consider simplifying the production of SOAs and creating a separate SMSF adviser profession with its own compliance requirements, according to BGL.
A software boss has voiced his frustration with the accountants’ exemption debate, arguing that two professional associations have failed to back members’ sentiments.
Digital transformation strategy has been top of mind of late for most organisations. As seemingly endless waves of new technologies change consumption habits, organisations have been forced to rethink their purpose and pivot accordingly or be left in the dust (remember Blockbuster?).
A new push has emerged for the reinstatement of the Accountants’ Exemption with some people suggesting accountants are being let down by the major accounting groups.
Would you like the return of the Accountants’ Exemption? The Accountants Exemption gives accountants the ability to talk about SMSFs – establishment, contributions, pensions and windups – without and AFSL or Limited AFSL.
There is a misconception that reversionary pension documentation will always apply before a binding death benefit nomination. If the SMSF deed is silent on the question, it can be entirely possible at times that the binding death benefit nomination (BDBN) will apply before any reversion pension documentation.
Perceptions of distrust and low value continue to exist among SMSF clients when it comes to comprehensive financial advice, fuelling concerns among accountants that their trustee clients may be missing out on key information relevant to running their SMSF, according to new BGL research.
Recent Comments