Planner-accountant teamwork can increase profit
The scrapping of the accountants' exemption, which allowed accountants to advise on self-managed superannuation funds (SMSFs) without an Australian Financial Services Licence (AFSL), presents an opportunity for accountants to increase their revenue and profitability within the accounting firm.
That was the opinion of GPS Wealth director, Greg Holman, who made the point despite accountants previously expressing displeasure with the fact that planning practices would take a cut of all fees that accountants would generate under the new licensing regime.
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