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New Limited Australian Financial Services Licence (AFSL)

A new form of financial advice licence will allow accountants to become licensed and able to provide a much broader range of financial advice than they have previously been able to. 

Written by

Hunt & Hunt

Licensees will be able to advise on self-managed superannuation funds (SMSF) and superannuation generally and also give “class of product advice” on basic deposit products, general and life insurance, securities, and simple managed investment schemes. This is financial advice where no specific recommendation of a particular product is made.

The consumer protection provisions of the Corporations Act, such as the best interests duty will be extended to the financial advice provided by accountants. more...Download PDF
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