Perpetual enhances accountant support

Perpetual Private has expanded its Accountants Partnership Program through a new business arrangement with professional firm Cowell Clarke Commercial Lawyers.

The deal means accountants looking to acquire their own Australian financial services licence to allow them to continue to service SMSF clients, and who are part of Perpetual’s program, will be granted access to online portal Cowell Clarke Connect.

The online legal facility will give accountants the ability to obtain legal advice, support and tools to enable them to manage their compliance obligations under the licensing rules to take effect on 1 July.

Access to Cowell Clarke Connect would assist accountants in transitioning to the new licensing regime, Perpetual Private professionals general manager Nathan Jacobsen said.

“We are excited to bring the expertise of Cowell Clarke to our Accountants Partnership Program and support our members to manage their compliance obligations,” Jacobsen said.

“The ongoing compliance support will greatly benefit accountants, many of whom might still be considering if managing a limited licence is right for their practice.”

He said the deal with Cowell Clarke was an indication of his organisation’s commitment to help accountants maintain their standing as the trusted adviser by preserving their independent status.

“Given the tight time frame for accountants to determine their licensing path, some may feel the only option they can take is to turn to the authorised representative model. This is not the case,” he explained.

“Today’s announcement will help minimise the uncertainty of navigating the new market.”

Cowell Clarke partner Catherine Evans said working with Perpetual Private “will allow us to work together to create a smooth transition for accountants who may feel overwhelmed with the changes they may need to implement”.

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