Accountants have completed our RG146 2 day course already

225

Accountants have already applied for a Limited Authority through GPS Wealth

190

If you are an accountant act now!

Option 2 - Strategic Authority

  • A simple replacement for the SMSF accountants exemption
  • General advice only on investments and insurance-not specific product advice
  • Continue to recommend the establishment of SMSF's
  • Advice regarding contributions
  • General and strategic advice on consolidator of existing superannuation accounts
  • General in strategic SMSF and advice regarding pensions, TTR, reserves, death benefits, investment strategies and classes (but not allowed to undertake investment recommendations)
  • General and strategic advice regarding limited recourse borrowing, transferring of business real property (Limited recourse borrowing is not a financial product thus accountants can discuss with out being licensed)
  • Includes all of option 1 plus strategic advice inside and outside superannuation
 

What are the areas covered by a Strategic Authority?

 

SELF MANAGED SUPER FUNDS
1 Advise my client to set up an SMSF Permitted
2 Advise my client about their superannuation products in relation to their existing holdings to the extent required for:
  • Making a recommendation to establish an SMSF
  • Providing advice to a client on contributions or pensions under a superannuation product.
Permitted 
3 Help my client set up an SMSF.(this includes execution only) Permitted
4 Advise my client to exit their SMSF and roll their funds over into a particular pension product. Permitted
5 Advise my client to exit their SMSF and roll their funds over into a pension product. Permitted
6 Advise my clients to set up an SMSF so they can buy property through the SMSF Permitted
7 Advise my client to buy BHP shares through their SMSF. Not Permitted
8 Advise my clients that they should buy shares through their SMSF Permitted
9 Arrange for my clients to buy shares (eg help them trade or do the trades for them.) Not Permitted
10 Do my clients tax for their SMSF Not licensable
INSURANCE
1 Advise my clients about the type of life risk insurance they should buy Permiited
2 Advise my client about the death and disability options in their existing superannuation product (e.g. if your client asks 'is this right amount of cover best life insurance?') Permitted 
3 Advise my client about how much life risk insurance they should have? Permitted
4 Advise my client about the underwriting process for a particular product. Not Permitted
5 Advise my client to switch their insurance product to a different product. Not Permitted
6 Advise my client that they might want to get further advice from an expert about their life risk insurance product because it might not be right for them. Not licensable

SECURITIES
1 Advise my client to hold direct shares through their SMSF Permiited
2 Advise my client about the types of shares(e.g. bank or mining) they should invest in. Not Permitted 

 

The above tables have been reproduced from the Information Guide produced by CPA Australia and the Institute of Chartered Accountants (CA) Version: IG 22.01.14.
Note that under all three options you are only able to provide "class of product" advice not specific product advice.

WHAT ARE THE COSTS?   OUR GPS WEALTH LICENCE FEE PROVIDES YOU WITH
Cost excluding GST - Initial cost first person

$11,000 (plus GST)

Including Moneybowl SMSF Software Licence (12 Months)

Cost each additional person up to 4 person $2,500 per person
Cost each additional person > 5 persons $600 per person

Moneybowl SMSF Software Licence

(Per month, per licence)

$90 (plus GST)



 
1. Strategic Authority plus a Credit Authority (additional authority not usually covered by other licences.

2. Additional PI Cover needed for a limited licence

3. Three Success Days annually

4. Two half days on SMSF training

5. Annual Accountants and Advisers Forum - Annual Accountants Financial Planning

6. Monthly access to kaplan online. Complete your training plan of 15 hours provided to remain compliant.

7. Statement of Advice templates for setting up a SMSF and Limited Recourse Borrowing Template.

8. Induction Day

9. Compliance Pack

10. Marketing Pack