Accountants have been told to focus on the upside of entering the SMSF space, with an increase in fees a key positive outcome.

Becoming licensed or authorised to provide advice is the easy part. David Lunn points out it’s what will happen after 1 July this year that accountants should really focus on.

Accountants entering the SMSF space must ensure they have built strategies around their clients, but also learn how to communicate the benefits of each strategy in order to get the price right.

Accountants are facing multiple headwinds, including technology, commoditisation and increased competition from tax advisers, but it is not too late to demonstrate their value and relevance to clients.

Fiducian Financial Services (FFS) has revealed accountants using its practice development Associates Program are going all the way and opting to become fully licensed, rather than sticking to the establishment of SMSFs.

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