Fortnum Private Wealth head of strategic development Scott Charlton, a chartered accountant and business coach, will lead the new venture, the statement announced.

“With the removal of the accountants’ exemption on July 1, 2016, many organisations have launched a licensing solution for accountants but licensing alone won’t ensure that accountants and their clients are better off under the new regime,” Mr Charlton said.

“In addition to licensing, we want to give accountants clarity and direction around their business model.

“We want to help them run more productive, efficient and profitable practices through training, coaching and interaction with their peers.”

Fortnum boss Ray Miles said the exit of Proactive Accountants Network from the training space opened up a void for the non-aligned licensee to fill.

“We don’t believe that the challenges facing accountants can be solved with licensing or software alone but rather we want to partner with people to implement effective programs and help grow their business,” he said.