Investing in Self-Managed Super
Accountants have long provided both accounting expertise and investment advice to Self Managed Super Funds, but that era will come to an end on June 30, 2018. That’s when the “accountant’s exemption” to the 2016 financial advice licensing reforms expires. From then on, it will be illegal for accountants to advise their clients on investment decisions unless they hold a licence in their own right. As a result, accountants are now grappling with how to retain the business of setting up, structuring and maintaining their clients’ SMSFs while not saying anything that looks, sounds or smells like advice. Andrew Ward, managing director of online platform SelfWealth, believes his “social network for investors and trading solution” solves the problem.