Bronny Speed

With advice professionals facing a 31 December 2025 deadline to remain on the Financial Adviser Register (FAR), AccountantsIQ, the Self Managed Super Fund Association (SMSF Association) and Deakin University have come together to provide a practical, cost effective and time efficient solution.

The organisations are delivering 2 courses, listed as approved units towards meeting the legislated requirements:

• Ethics for Financial Services (Intensive) via Deakin University; and
• SMSF Specialist Advisor Program via the SMSF Association.

In response to market feedback, Bronny Speed, Founding Director of AccountantsIQ, known for her advocacy and thought leadership expertise, believes this is a great new initiative to help accountants and financial advisers fast-track their outstanding mandatory education requirements.

Together, the courses offer up to 77 CPD hours and are delivered online. Bundled pricing lowers costs, and an added bonus is that Associate Membership of the SMSF Association is available to those new participants who complete their course.

Off the back of the success of the AccountantsIQ Cram 4 Exam programs to assist practitioners pass the FASEA exam (as it was previously known), Bronny Speed will lead the Deakin University Ethics for Financial Services (Intensive course). “Given Ethics is a Compulsory Bridging Unit and many still need to complete it, by offering this subject in a practical, structured and intensive format, many advice professionals will benefit.” said Bronny Speed.

The SMSF Specialist Advisor Program is also a very sought after program, particularly for those requiring an additional accredited subject along with the Ethics course.

“The SMSF Association’s SMSF Specialist Advisor program (SSA) remains the pinnacle of specialist SMSF education within the sector, and completion of this course has been recognised as a credit towards meeting these mandatory education requirements,” said Peter Burgess, CEO of the SMSF Association.

AccountantsIQ is well acquainted with industry education and regulatory requirements, having spent a decade supporting accountants who practice under an AFSL and having been engaged as the Leader of Financial Advice by Chartered Accountants ANZ for over 5 years.

“A key takeaway from the FASEA exam is, do not wait until the last minute. This is a practical and time effective solution for advice professionals to remain on the FAR by meeting the ASIC educational requirements well before the 31 December 2025 deadline,” says Bronny Speed.

The Deakin University Ethics for Financial Services (Intensive) course will be offered over four half days during November 2024. Enrolments close on Monday 21 October 2024.

The SMSF Association’s SMSF Specialist Advisor Program is a self-paced 12-week online program.

For those who may benefit from this joint initiative, a Flowchart and Information Sheet has been developed. They are available on both the AccountantsIQ and SMSF Association websites.

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Bronny Speed

With only four months until the new regime for accountants working in the Self Management Superannuation Funds (SMSF) sector comes into effect, accountants need to seize the opportunity to obtain a Limited Australian Financial Services Licence (Limited AFSL) or risk missing the boat altogether, according to AccountantsIQ Director, Bronny Speed.

Ms Speed, who is both a Chartered Accountant and a Certified Financial Planner, says time is running out for accountants who want their own Limited AFSLs. “We’ve heard the deadline will not be extended so accountants who have not already begun their journey towards getting one need to start right now.”

From 1 July 2016, accountants working in the SMSF sector will be required to either hold a Limited AFSL if they want to continue to advise the SMSF sector or become an authorised representative (AR) of an external licensee. “If they don’t do one of those two things, they will no longer be able to provide advice to the SMSF sector,” Ms Speed says. “It’s as simple as that.”

Late last year, Ms Speed launched AccountantsIQ in conjunction with ex-Macquarie Associate Director, Melissa Ash and specialist industry businesses SMART Compliance and Heffron SMSF Solutions, to help accountants gain and maintain a Limited AFSL.

“We recognise that many accountants want their own AFSL but are very busy running their businesses. AccountantsIQ has been specifically designed to help make the process of getting and keeping a Limited AFSL a whole lot easier for them,” Ms Speed says.

AccountantsIQ offers a two-phase service. Phase 1 operates between now and 30 June 2016 and is designed to help accountants apply for a Limited AFSL, choose the study path that is right for them and provide guidance around the smooth business integration of the ‘new’ service offering. “By lodging applications and communicating with ASIC on behalf of each practice, we make the process much simpler,” Ms Speed says.

Phase 2 operates beyond 1 July 2016 and is designed to provide ongoing support that helps accountants maintain their Limited AFSL in the new SMSF regime. “We recognise that many accountants will need ongoing support in areas like compliance, advice templates and maintaining technical competence,” Ms Speed says. “Phase 2 of our service is about being right there beside accountants in each of these areas, helping them to meet their ongoing regulatory obligations.”

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