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GPS Wealth develops licensing app

Independent financial planning and accounting firm GPS Wealth has unveiled a free online application that allows accountants to accurately determine the appropriate licensing solution for them in just 60 seconds.

The web-based app was developed by GPS Wealth as a way to help accountants better understand their licensing needs and requirements under the government’s new regulatory framework, effective from 1 July 2016.

Accountants would be given the information they needed to begin the licensing process and take control of their future following a simple questionnaire, GPS Wealth director and app creator Greg Holman said.

“Having spoken to hundreds of accountants in the last 12 months, we’ve learned that there’s a lot of confusion, misinformation and a general lack of information in the market around licensing, which is why we developed this app,” Holman said today.

“Our goal is to educate accountants on their licensing options because time is ticking away.

“Getting ready for the new regime doesn’t have to be complex or expensive, and the app aims to make it easy for accountants to move forward with confidence.”

After completion of the questionnaire, a qualified accountant will contact accountants within one business day to confirm their licensing needs and explain their options in detail.

The obligation-free service, which has been tested by several accounting firms, had been well received, Holman said.

“The app was designed to make information on licensing readily available to more accountants because there’s only 10 months left before the accountants’ exemption is removed, which will force many accountants to be licensed in order to continue providing the services they’ve always provided,” he said.

In the past year, over 49 accounting firms have applied for a limited authority from GPS Wealth.

More than 104 accountants attended the group’s two-day RG 146 courses.

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