OneVue has taken its digital platform solution to the accounting and tax adviser market in an association with the specialist dealer group, Accountable Financial Solutions (Accountable).
Accountable’s business model is structured to deliver advice, product and training solutions for accountants and tax advisers in this changing regulatory environment. The Accountable business is dedicated to responding to the specific needs of practicing accountants and their clients.
OneVue’s CEO, Connie Mckeage, said OneVue’s platform empowers Accountable to better support their accountants in servicing individuals, SMSFs, trusts, not-for-profits, businesses and family groups.
Accountable Executive Director, Tony Zulli, said that he had been seeking a platform provider that could offer investment and superannuation product solutions tailored to its scalable advice solutions for accountants in practice.
“The majority of accountants in practice have never been authorised under a licence nor had any connection with a platform provider. Yet they are interested in having a discussion on how they can offer products and services that are relatively simple and easy to deliver to their clients”, he said.
Accountable’s appointment of OneVue comes in the wake of the Investment Trends 2015 SMSF Accountant Report that found simplicity of use and good tax reporting facilities were the two most commonly factors sought by accountants when choosing a platform to manage self-managed superannuation funds (SMSFs).
The OneVue and Investment Trends survey, completed in April this year, found that from the 38,000 accountants in public practice, about 87 percent are advising on SMSFs but only about 8 percent currently hold AFSLs.
The findings are based on a survey of 1,647 accountants in public practice that was sourced from various channels, including the leading independent accounting body, Chartered Accountants Australia and New Zealand.
In 2013, the Federal Government introduced new legislation that requires accountants who provide strategic advice to SMSF clients to become licensed by July 2016 to provide this advice.
From the accountants surveyed, when the new regime starts the majority are intending to provide their clients access to SMSF advice either through themselves or through someone else.
Organisations such as Accountable are already successfully delivering a licensing and advice service specifically for the busy accountant.