Transition to licensing programThe first step towards transforming your accounting practice

Licensing – the key to transforming your accounting practice

Transition to Licensing – Program outlineTransition to Licensing is an intensive business program that gets you and your accounting business ready to provide strategic financial advice – efficiently, legally and profitably.

This unique program not only helps you obtain all the necessary qualifications, but also provides practical advice and guidance on how to make it all possible within your business.

It is isolated into four components:

1TrainingEnsuring you receive the best qualifications

Four training modules include:

1 RG146 qualification

Training so you can attain your RG146 qualification. RG146 covers the first four units of the Diploma of Financial Services. It is the mandatory education level for becoming an authorised representative and being able to provide a full range of strategic advice.

2 SMSF specialisation training

Required if you haven’t already attained your SMSF specialisation qualification.

3 Transition to Licensing workshop

This in-depth workshop explores how to manage your dual responsibilities as a licence holder and an accountant. It also covers how to implement an effective strategic-advice centred pricing structure and practical advice on how to manage your responsibilities both to ASIC and your clients.

4 Induction program

A comprehensive induction program into the systems and processes we have developed to make the transition to licensing easier. You will be guided on how to:

∙ meet your compliance requirements, including an overview of our advice guidelines

∙ utilise advice templates

∙ use customised financial planning software

∙ access extensive professional development training and online resources.

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SMSF specialist accreditationHelping you obtain an SMSF specialist accreditation

If you haven’t already attained an SMSF specialist accreditation, we will support you to get there. SMSF Advice will cover 50% of your cost of becoming an accredited SMSF specialist advisor (SSA) by the SMSF Professionals Association of Australia Limited (SPAA) and 50% of the first year of membership.

If you prefer to become recognised as an SMSF specialist by receiving accreditation from Certified Practicing Accountants Australia (CPA Australia) or from the Institute of Chartered Accountants (CA), SMSF Advice will pay a contribution towards the cost of your post-graduate studies in SMSF.

Para-planning supportEnsuring you have the right support when you need it most

SMSF Advice is the only financial services provider that will prepare your first four Statements of Advice after you have become one of our authorised representatives.

As one of the market leaders, we have the resources and capability to assist your business to make the transition as quickly as possible, and we make a commitment to do so.

Client base analyticsHelping you market your expanded service offer

Client analytics is a tool used by businesses to identify similar groupings of clients within their database. In the context of an accountancy practice, it is useful to group together clients of a similar age, wealth bracket, occupation or locality. Groups of clients most likely to need your strategic advice can be identified along with tailored marketing materials.

SMSF Advice gives you access to client analytic software and will guide you on how to use it. We use this software in our business, and it has been developed by trusted Australian research house Roy Morgan.

Training OVERVIEW

Content

Module Duration Delivery

Introduction

∙ Welcome

∙ Business models

∙ Entities

∙ Dual obligations

∙ DRAFT – review

1 day Face-to-face

RG146 SMSF/Personal advice 3 days Face-to-face

RG146 Financial products 4 days Face-to-face

RG146 Financial products continued 2 days Face-to-face

Transition to Licensing

∙ Managing dual obligations

∙ Advice guidelines

∙ Licensee induction

∙ Compliance tips and traps

∙ Writing Statements of Advice (SOA) using customised software

∙ Business models and pricing options

∙ Developing your Client Value Proposition

2 days Face-to-face

Client segmentation

∙ Recap

∙ FSG drafted

∙ Introduction to client segmentation

2 hours Teleconference

Formal appointment of authorised representative status

SMSF Specialist Training Within 12 months Distance

Please note we are always improving our program, so training topics, duration and delivery modes are subject to change.

Crunch the numbers

The SMSF Advice Transition to Licensing program is not only the most comprehensive but the most cost effective.

The cost of obtaining the minimum RG146 qualification, without any specific SMSF training, can be up to $4,000 as a minimum when training is delivered face-to-face by an education provider.

In comparison, SMSF Advice’s uniquely tailored Transition to Licensing program has a cost outlay of just $3,300 and includes a lot more than RG146 training.

You could expect to pay around $10,000 for a similar program. To help you make the move into licensing as stress-free as possible, we have heavily subsidised this cost.

Program details

Cost of trainingIncluded in the Transition to Licensing Program fee.

Program costThe total market value of this program has been estimated to approximately $15,000.

To help make the move into licensing as stress-free as possible, we have heavily subsidised this cost:

∙ Full program – $3,300 includes 12 days

∙ Fast track A (already have DFS) – $1,650 includes 3 days

∙ Fast track B (already SPAA and super accredited) – $1,650 includes 12 days

Group bookingsFor groups of 10 or more participants, we are able to customise a program and timing to suit.

PresentersTraining is delivered by SMSF experts and business improvement specialists who understand how accounting businesses operate (most of us have accounting backgrounds!) and what it takes to build and manage a successful financial planning practice.

LocationsMelbourne, Sydney, Brisbane, Perth and Adelaide. If numbers permit, regional locations will also be offered.

DurationThe main benefit of the way the training is structured is the interactive, face-to-face delivery of the content and the intensity in which it is run. So you will complete it in around 6 months, rather than the usual 1–2 years by distance learning.

• The program structure is unique. Many other providers offer RG146 training only, but we believe this is only one important step to take. The Transition to Licensing Program provides an end-to-end solution, so you will have the relevant qualifications and be ready and confident to deliver the advice.

• The cost has been heavily subsidised, making it not only the most comprehensive program, but also the most cost effective.

• Our intensive approach enables you to finish the training in six months rather than the typical 1–2 years. Becoming an early adopter means you’ll reinforce your expertise in the SMSF space, establish a new advice-driven client base and increase business revenue well ahead of your competition.

• The training component is delivered in an interactive, face-to-face environment rather than by isolated, distance learning. This makes it a great opportunity for you to network with and learn from peers.

• We have an intimate understanding of how accounting businesses operate, the activities they provide, as well as licensing. With this knowledge, we can guide you on the best way to make the shift from providing advice as an accountant, to providing strategic advice in a licensed environment.

For me, the SMSF Advice Transition to Licensing program was excellent – the course content was relevant, professionally delivered and interactive. The entire program was extremely well organised and the ongoing support reflects the strong commitment SMSF Advice has to assisting and supporting accountants working in the area of self managed super funds.

Dale Lyon Principal, Numerical Strategies SMSF Advice

Being a typical accountant, I was initially going to do the required study in my own time externally. I’m glad I didn’t, as the SMSF Advice Transition to Licensing program was focused and allowed me to appreciate the Licensing regime. Also, the support of SMSF Advice is invaluable and I enjoyed the interaction with other professionals.

Ross La Rosa Director, Thomas Medwin & Associates Pty Ltd Accountants, Taxation and Business Advisors

What makes this program different?

• The program structure is unique. Many other providers offer RG146 training only, but we believe this is only one important step to take. The Transition to Licensing Program provides an end-to-end solution, so you will have the relevant qualifications and be ready and confident to deliver the advice.

• The cost has been heavily subsidised, making it not only the most comprehensive program, but also the most cost effective.

• Our intensive approach enables you to finish the training in six months rather than the typical 1–2 years. Becoming an early adopter means you’ll reinforce your expertise in the SMSF space, establish a new advice-driven client base and increase business revenue well ahead of your competition.

• The training component is delivered in an interactive, face-to-face environment rather than by isolated, distance learning. This makes it a great opportunity for you to network with and learn from peers.

• We have an intimate understanding of how accounting businesses operate, the activities they provide, as well as licensing. With this knowledge, we can guide you on the best way to make the shift from providing advice as an accountant, to providing strategic advice in a licensed environment.

The accountant’s licensee

Register today

Start your journey today.

Register by calling 1800 054 945 or email information@smsfadvicelimited.com.au

smsfadvicelimited.com.au

SMSF Advice provides licensing and support services for accountants. We are SMSF specialists ourselves, so we have an intimate understanding of the opportunities and challenges in this growing sector.

With SMSF Advice licensing, you can advise your clients about:

∙ rolling over their existing super

∙ the best way to structure their SMSF investments

∙ pensions and transition to retirement strategies

∙ contributions advice

∙ property funding options within an SMSF

∙ personal and business insurance needs analysis and ownership issues

∙ product recommendations for basic deposit products and Cash Management Trusts.

Being part of the AMP group means we can draw on in-depth knowledge of the financial services industry and a wealth of tried and tested resources to ensure the licensee, and all businesses associated with it, succeeds.

SMSF Advice Pty Limited ABN 11 074 225 353 AFSL No. 234664 Part of the AMP group

The information contained in this document provides a general guide to our services only. Changes in circumstances may occur at any time and may impact the accuracy, reliability or completeness of the information and we exclude liability for any decision taken on the basis of the information shown in or omitted from this document. SMSF Advice Pty Ltd has taken reasonable care in producing the information found in this document at the time of writing. 20

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