Digital advice provider Plenty Plus has built a white label service which will enable accountants and advisers who provide SMSF advice under an Australian Financial Service Licence (AFSL) to generate statements of advice (SOAs) on single topics such as setting up SMSFs, buying property in super, starting pensions and contributing into super.
Plenty Plus co-founder Josh Golombick said the SOAs produced under the white label service are not templates and can be given to the client without the accountant or adviser spending extra time editing the document.
Plenty Plus co-founder Greg Einfeld said from 1 July 2016, accountants have been unable to provide advice relating to SMSFs without obtaining their own AFSL or becoming an authorised representative of an AFSL.
“Those who did get a licence have found the production of SOAs very cumbersome with research showing that accountants are taking an average of 6.8 hours to produce an SOA for a typical SMSF client. Financial planners aren’t faring much better – taking 6.3 hours on average,” said Mr Einfeld.
“Plenty Plus’s White Label service looks to solve this dilemma by giving accountants and planners the ability to generate SMSF specific SOAs entirely online.”
not templates but dont require any altering to make them specific to an individual client. Interesting to see how that works…