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Accountants get green light for AFSLs

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Australian Broker | 26 Jun 2012, 05:00 AM Agree 0
The government has finally announced that it is altering exemptions on accountants providing a broader range of financial advice
  • Jeff Mazzini- AAMC Training Group | 26 Jun 2012, 01:18 PM Agree 0
    Confusing messages here in that Bill Shorten talks about needing to run under an AFSL Licence where as the Institute of Public Accountants’ message was if you hold your public practice certificates then its business as usual, I am confused. All that aside, one can see credit as the next product for accountants as well, given many clients currently discuss this area with their accountant
  • KT | 27 Jun 2012, 02:04 PM Agree 0
    Mr Mazzini,

    Isn't it a good thing that clients of Accountants are discussing credit with their Accountant? Chartered Accountants and CPA's have a FIDUCIARY duty to act in the best interest of their client, over and above their own interest. Financial Planners and Mortgage Brokers currently don't have this fiduciary duty. Not all Financial Planners and Mortgage Brokers are unethical but it gives clients peace of mind seeing an Accountant for credit advise, knowing it is impartial and always in their best interest.
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