Industry analysis has shown automated or robo-advice can add the element of service accountants require to fulfil their existing SMSF clients’ unfulfilled needs, according to a senior research house executive.

Actuaries will need to address a small number of changes in relation to issuing actuarial certificates, despite the government’s decision to keep them in place for unsegregated funds when claiming exempt current pension income (ECPI).

Accounting and financial services businesses that move to cloud-based systems can not only benefit from offshoring business efficiencies, but also nimbleness when it comes to staff.

Accountants should consider using surveys more often as a method of attracting new SMSF business to their practice, a specialist business consultant has said.

Accounting firms looking to transition their business from traditional practices to adopt cloud technology must be fully committed to the move to receive the best results possible, according to a senior executive of an accounting firm.

Accountants should not regard financial planners as competitors and should instead use them to complement their existing client value proposition, a senior advisory executive has said.

Recent research on the accounting profession performed by licensing solutions service provider Accountants’ Scaled Advice Platform (ASAP) has led the firm’s chief executive to conclude the impending Australian Securities and Investments Commission (ASIC) shadow shopping exercise into SMSF advice is unlikely to expose widespread provision of unlicensed advice by accountants.

Vanguard Australia’s recently launched low-cost active funds in the local market are expected to resonate well with SMSF trustees’ need for greater control over their investments.

Online investment modelling platform provider Optimo Financial has enhanced its mathematical strategic investment modelling tool, Pathfinder, to incorporate the new superannuation legislation passed by Parliament in November last year.