{"id":374,"date":"2015-08-04T09:51:34","date_gmt":"2015-08-04T00:21:34","guid":{"rendered":"https:\/\/fwgs.net.au\/?p=374"},"modified":"2015-09-23T09:54:36","modified_gmt":"2015-09-23T00:24:36","slug":"what-happens-at-9am-on-1st-july-2016-when-a-client-seeks-your-advice-on-smsfs-part-i","status":"publish","type":"post","link":"https:\/\/fwgs.net.au\/what-happens-at-9am-on-1st-july-2016-when-a-client-seeks-your-advice-on-smsfs-part-i\/","title":{"rendered":"What happens at 9am on 1st July 2016 when a client seeks your advice on SMSF\u2019s? (RG146 Part I)"},"content":{"rendered":"<p>Are you ready for 1 July 2016?<\/p>\n<p>The best way to answer this question is to reflect on my own experience.\u00a0 I recall a sense of dread bordering on panic. When face-to-face with a client the (mainly irrelevant) DFP 1 or DFP 2 means nothing. My accounting degree\u00a0and marketing degree didn&#8217;t offer much help either. There will be aspects of the advice process that will be innocently and unintentionally neglected simply because most training programs do not map out what is required and when.<\/p>\n<p>I have worked in financial services for\u00a0nearly three\u00a0decades and operated a license since 2011.\u00a0\u00a0Based on my experience,\u00a0my observation is that accountants have been underwhelmed with advice and support from their peak bodies concerning the accountants\u2019 exemption expiry.<\/p>\n<p><strong>An AFS Licensee has direct client liability<\/strong>.\u00a0This isn&#8217;t breaking news and\u00a0represents\u00a0the main reason an accounting firm would be reluctant to operate their own license. Financial advisers are being sued most days in the working week. Operating my own license means I absolutely cannot allow non-compliance.<\/p>\n<h2><strong>How will you and your\u00a0practice comply on 1 July 2016?<\/strong><\/h2>\n<p>To be continued &#8230;<\/p>\n<p>Please look out for tomorrow\u2019s news feed about SMSF advice from 1 July 2016.<\/p>\n<p>Register your interest today.\u00a0 We offer face-to-face RG146 training &#8211; courses booked in Sydney, Adelaide and Perth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you ready for 1 July 2016? The best way to answer this question is to reflect on my own experience.\u00a0 I recall a sense of dread bordering on panic. When face-to-face with a client the (mainly irrelevant) DFP 1 or DFP 2 means nothing. My accounting degree\u00a0and marketing degree didn&#8217;t offer much help either. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":461,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,11,21],"tags":[19],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are accountants ready to offer SMSF advce on 1 July 2016. RG146<\/title>\n<meta name=\"description\" content=\"finance wise can help you continue offering SMSF advice to your clients when the accounting exemption is removed. 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