News

Business News

Adviser Network unveils SMSF suitability tool

Adviser Network has launched a cloud-based solution designed to help accountants continue to provide advice on the appropriateness of SMSFs to their clients in an easy, compliant and efficient manner.

SMSFit allows clients to answer a series of online questions that will assist in determining whether an SSMF structure is fit for their purposes, with the questions aimed at capturing the client’s current financial objectives, circumstances and needs as they relate to retirement and superannuation.

It then generates a limited statement of advice (SOA) that reflects the client’s attitudes related to the suitability of an SMSF.

“SMSFit enables licensed accountants to maintain their role as a trusted partner to their clients,” Adviser Network chief executive Duncan McPherson said.

“The new licensing regime requires accountants to get their head around a multitude of rules and we want to ensure they have all the tools they need to develop the advice component of their business.

“Accountants who have formed strategic relationships with financial planners will be able to continue to refer their clients for rollover and comprehensive financial advice if they decide to proceed with an SMSF after reviewing the limited advice provided by SMSFit as to the suitability of an SMSF for their clients.”

SMSFit is licensed by the accountant’s chosen Australian financial services provider.

Registration involves an annual subscription fee of $99, with the cost of producing the results and a limited SOA being charged per limited SOA generation.

This allows the licensed accountant to invoice their client based on the cost of the limited advice using SMSFit, along with their own fee for further financial advice.

“We are absolutely dedicated to providing transparent and non-conflicted outcomes for clients,” McPherson said.

“We have put a lot of resources into ensuring that SMSFit is totally objective and that the advice it provides is based on the requirements of each client.

“With SMSFit, both the licensed accountant and the client know that the advice is fit-for-purpose and underpinned by experienced industry practitioners.”

Adviser Network is a subsidiary of Lonsec Fiscal Holdings.

Copyright © SMS Magazine 2022

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital