Accountants reconsider advice offering–client & practice benefit outweigh negatives says InterPrac

MELBOURNE, Australia - Aug. 28, 2016 - PRLog -- InterPrac Financial Planning's (InterPrac) Managing Director Garry Crole has noted that since the expiration of the July 1 exemption, accountants have realised that the benefits to clients of licensed financial advice far outweigh any perceived negatives.  As a result of InterPrac's strong and long established relationship with the National Tax & Accountants' Association (NTAA) and reputation as an accountant focussed national licensee, the group has been the beneficiary by attracting a growing stream of enquiries and new practices.

Supporting Garry Crole's comments, InterPrac National Practice Manager Michael Gershkov can attest to the number of enquiries and requests by accountants to join the organisation since the beginning of the year that will see the dealer group reach over 200 advisers by December 31.

Although regulations may have changed, accountants continue to take immense personal and professional pride in their role as the 'trusted adviser' in the financial advice arena said Michael Gershkov.  "Many accountants that opted for a partial AFSL have realised the obligations weren't as onerous as first thought and in fact the full license would have been more appropriate".

Another key driver for accountants joining InterPrac is that without an AFSL they are severely hampered in maintaining, managing and implementing long term financial strategies and solutions for their clients – especially business owners and HNW professionals that rely so heavily on the advice and guidance of their accountants when making major financial decisions.

Irrespective of the regulatory change that came into effect on July 1, the accounting industry has been undergoing a major structural change and shift in response to changing consumer and client behaviour / expectations together with escalating costs, impact of technology and a growing pressure on revenue streams and margins.

"As accounting businesses morph into advisory businesses, wealth management and financial planning will be a key offering required by clients and in turn, needed to underpin and position these practices for sustainable long term future financial success", continued Michael Gershkov.

"InterPrac's compelling accountant focussed and specialised marketplace offering has been developed especially to support accountants to provide professional compliant advice and services to their clients".

Michael Gershkov stressed that from its inception over 12 years ago, InterPrac's offering is not a 'one size fits all' off the shelf solution imposed on accountant advisers.  It acknowledges that each accountant adviser is unique and by working in partnership, the InterPrac offering is adapted to the individual needs of the practitioner whether they be risk insurance specialists, estate planning experts, SMSF consultants and aged care advisers, etc.

"It is a flexible solution for advisers and we pride ourselves on having an integrated and practical approach to our service and support offering, hence the name 'InterPrac' Financial Planning" affirmed Michael Gershkov.

Looking to the future, Garry Crole is confident the national licensee will continue to go from strength to strength and this will be reflected in more and more accountant advisers joining the group across Australia.

"Although very pleased with our success and achievements to date, we are not a dealer group obsessed with growth for growths sake.  At InterPrac, growth is carefully managed within a lean operational infrastructure and the highest priority for a new entrant seeking to join the group requires they are a 'cultural fit' working in harmony with fellow, like-minded professionals", concluded Garry Crole.

ENDS

Issued by InterPrac Financial Planning Pty Ltd   www.interprac.com.au

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