An interest in self-managed superannuation funds (SMSFs) led Jerry Guico to pursue a career in financial planning, but the young accountant now spends more time in the company of doctors, lawyers and entertainers.
The Sydney-based Guico, 33, initially considered both accounting and engineering as career options when still at school, but having an accountant mother pushed him in that direction.
Superannuation provided a chance to specialise.
“Years ago when superannuation was still fairly new, an opportunity arose with my previous employer where a superannuation division was created within their financial planning business and I was asked whether I would like to be a part of that team,” he told Professional Planner.
“I happily accepted as I saw that as a path into financial planning, which at the time I was wishing to pursue. The financial planning career didn’t eventuate but I have since remained within the SMSF space and have not looked back.”
Guico has completed the CPA program and also holds a Diploma of Financial Planning, which he undertook to be RG146 compliant. The SMSF Professionals’ Association of Australia (SPAA) also recognises him as a specialist SMSF adviser.
Currently an SMSF manager at Logicca Chartered Accountants, he plans to attract more Gen X and Gen Y clients.
“Our average client would be a baby boomer with a super balance of between $500,000 and $1 million. Types of clients we look after would be doctors, lawyers, entertainers and small business owners,” he said.
“In the future, I would like to focus on Gen X and Gen Y clients as more SMSF’s are being opened by these clients and, belonging to this group, I can relate to the retirement needs of the group.”
While he was not able to attend the most recent SPAA conference, he acknowledges the importance of interaction with industry peers.
“I attended the 2012 SPAA conference in Sydney and my highlight would have been Stuart Forsyth’s session as it is always good to hear what the Australian Tax Office is focusing on and their views on certain matters,” he said.
He is upbeat on increased regulation across the SMSF sector.
“I am confident that we will meet the new financial advice regulations as we have access to a few people with an Australian Financial Services License, in which we could become an authorised representative,” Guico said.
“Also, with the introduction of a new limited license for accountants, the business has a few options available to ensure it complies with the new regulations by July 1, 2016.”
