Perpetual Private has announced a new partnership with Cowell Clarke Commercial Lawyers to help support accounting practices looking to obtain their own limited Australian Financial Services Licence (AFSL) as part of new rules coming in on July 1.
The online portal, Cowell Clarke Connect, will give accountants access to ongoing legal advice, support and tools to easily stay abreast of legal developments impacting compliance obligations.
Perpetual Private general manager professionals Nathan Jacobsen said the partnership strengthens Perpetual's suite of support services and tools for accountants, and will help with the transition to the new licensing framework.
"The ongoing compliance support will greatly benefit accountants, many of whom might still be considering if managing a limited licence is right for their practice," Jacobsen said.
"A key factor behind the trusted advisor reputation accountants have built is independence, and our Accountants Partnership Program is designed to support accountants who want to maintain their independence and grow their practices.
"Given the tight timeframe for accountants to determine their licensing path, some may feel the only option they can take is to turn to the authorised representative model. This is not the case."
Cowell Clarke partner Catherine Evans added: "This partnership will allow us to work together to create a smooth transition for accountants who may feel overwhelmed with the changes they may need to implement."