It's called the GPS LAP. There are two licensing options for the accountant to choose from. Importantly the options have been developed by real accountants for real practicing accountants.
With removal of the accountants exemption from the 1st July 2016 (which allowed accountants to establish and provide limited advice in relation to SMSF's) accountants now need to be making decisions on the type of licence they need.
The benefits to the accounting firm of becoming licensed through an existing AFSL
By embracing financial services it enables the accounting firm to offer clients extra value added services which will generate profits and capital value. But it will also will add to more strategic advice being given to clients in relation to SMFS's further increasing revenue and profits.
Greg says " It really enables many accounting firms to transform their businesses and differentiate their practice from many of their competitors. Importantly it also means the accounting firm becomes the "one stop shop" which puts the fence around the client base".
GPS Wealth recognises the importance of having strong systems and processes to support forward thinking accountants in the area of client introductions to specialists for investment planning and insurance.
State of the art processes in GPS have been developed by accountants for accountants. Today GPS specialises in providing tools, templates and systems to enable accounting firms to successfully refer their client's financial advice and risk insurance needs (Life, trauma, TPD, income protection insurance) to a specialist adviser. It's an old adage that you can only manage what you can measure.
You will be invited to an Introduction to GPS Wealth day to "kick our tyres" and see if a relationship with GPS Wealth is right for you.
If your current referral relationship does not offer any of the above then you need to speak to a GPS Wealth representative for an obligation free meeting. At GPS Wealth we simply exist to help accountants like you to build ideal referral partnerships, working with ideal client's, and giving appropriate advice. GPS Wealth is not a dealer group but a new category of financial services licensee. We believe we are the way of the future not the past.