MGD launches Financial Services Alliance Agreement - MGD
6 November 2015

Different regulatory frameworks have historically applied to accountants and financial planners. A new regulatory framework set to be introduced on 1 July 2016 will see accountants and financial planners further aligned with the repeal of the accountant’s exemption. This is a shift from current arrangements whereby recognised accountants are able to recommend a client should establish or wind up an interest in a SMSF (under Regulation 7.1.29A).

As the impending removal of the exemption has left many accountants contemplating what the best option for them and their practice is, we have launched an initiative designed to allow accountants the ability to ensure their clients continue to receive high end innovative advice surrounding their SMSFs without the burden of obtaining an AFS licence.

Operating under our own AFS licence, our Financial Services Alliance Agreement allows accountants to continue to comply with regulation whilst having peace of mind that their clients are not missing out on crucial financial advice.

The Agreement clearly outlines, according to the incoming changes, what each party may and may not do in regards to providing information and advice to clients surrounding superannuation. The document sets clear boundaries to allow accountants to continue to provide administration, compliance, audit and tax advice in respect of their clients SMSFs, as per Regulation 7.1.29, as well as any other service not affected by the abolishment of the accountant’s exemption.

If you would like to find out more about MGD Wealth’s Financial Services Alliance Agreement, please don’t hesitate to contact us on (07) 3391 5055 or via

Disclaimer: This publication contains general information only and is not intended to constitute financial product advice. Any information provided or conclusions made, whether express or implied, do not take into account the investment objectives, financial situation and particular needs of an investor. It should not be relied upon as a substitute for professional advice.