White label SOA service gains traction

AccountantsIQ has reported strong interest from licensed accountants turning to its white label statement of advice (SOA) solution, in a quest to deliver quality advice quickly and efficiently ahead of the new superannuation changes commencing on 1 July.

Accountants with a limited Australian financial services licence were looking to minimise business disruption and save time when it came to writing or rewriting their advice documents, AccountantsIQ director Bronny Speed said.

“With the complexity of the super reforms, we have noticed a large increase in enquiries about our advice templates, predominantly the SOA and fact find,” Speed revealed.

“Many don’t have time to be writing strategy text to explain these detailed new areas and are looking for professional templates that are well written, clear and in plain English for clients.

“Plus they need to have peace of mind that their SOAs meet all the Australian Securities and Investment Commission, Future of Financial Advice and best interests requirements.”

Speed added that accountants were realising they have only a few months left to ensure their clients are prepared for the changes.

“Judging by the amount of work we mapped out on an implementation plan we recently prepared with accountants who are using our service, there is a lot to do,” she warned.

“With the new super reforms now [legislated], never has there been a greater need for some support to make these complex issues more simple, both for accountants and their clients.”

For less than two hours of partner time a month, accountants can implement a compliant, cost effective solution to deliver advice in the new limited licence world, allowing them to spend the majority of their time looking after their clients, according to AccountantsIQ.

“Our templates are easy to use and cover all the regulatory requirements – this gives accountants the comfort they need as they navigate the new licensed world,” Speed said.

“We recognise this is a busy time for accountants and our aim is to [simplify the complexities].”

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