by David Buchanan, Director
In July 2016, legislation changed the way we as your accountant can advise on superannuation and SMSF. In the past, we could do this under the ‘accountants’ exemption’, but not any more. The new law imposed a range of restrictions on all accountants and to put it plainly, without study and formal licensing, for accountants to give advice on these matters is now illegal.
At DLA Partners, we embraced the new law and the silver lining is that our service offering is now better than ever. Read on to find out about the enhanced service you can now expect. It is streamlined and integrates your entire financial position, both business and personal. And it demonstrates our full commitment to helping you achieve your financial goals.
Introducing DLA Private Wealth
DLA Partners was proud to launch DLA Private Wealth in early 2017 and we are now fully compliant with FOFA advice delivery legislation. This means the formal documentation you now require in order to receive advice on your superannuation or SMSF can be put in place with ease and convenience. The creation of DLA Private Wealth will also help you respond to the super reforms I have outlined recently.
Importantly, our close professional alignment with the financial advisors at DLA Private Wealth means that we can seamlessly provide advice on superannuation and SMSF that is fully integrated with the taxation and accounting advice that you are use to receiving from DLA Partners.
Mindful of our care and commitment to helping you at all times, at DLA Partners we have proactively responded to the changing super environment in order to deliver a comprehensive and convenient solution for you if, like the vast majority of our clients, you are affected by recent changes to legislation surrounding both advice delivery and also super.
Launched in early 2017 and licensed under GPS Wealth (Corporate Authorised Rep Number 001251934), DLA Private Wealth offers a comprehensive range of financial planning services to clients who value seamless integration of your business and personal financial planning, taxation and accounting matters.
The experienced team of financial advisors at DLA Private Wealth are fully equipped to collaborate with your DLA accountant to prepare your SOA and, thereafter, to ensure that you receive the super and SMSF advice you need. If you already have a financial advisor, we are, of course, happy to continue to work collaboratively with them.
Your Big Picture
Of course, superannuation is just one component of your overall taxation, accounting and financial planning interests. Clearly related to your superannuation and SMSF decisions, for example, is the mindful selection of appropriate investment strategies that aim to further accumulate your wealth. You should also consider how to protect your wealth through insurances and the use of suitable business and taxation structures. Suitable structures should aim to help you to enjoy your wealth in the present and may need to be strategically reviewed as you approach and enter retirement and – for increasing numbers – need to fund your aged care. With regards to your legacy, you will also need to consider your superannuation strategy in relation to estate planning matters including your will and enduring power of attorney.
The DLA Partners and DLA Private Wealth combined approach was established to make it easier for you to receive and implement advice including contributing to your super, starting a pension or creating a SMSF. Our collaboration also provides integrated and holistic advice, conveniently under one roof, on financial planning matters in addition to taxation and accounting.
If you have any questions about DLA Private Wealth or any about any superannuation topic, please contact DLA Partners on (07) 3863 9444 or by emailing clientservices@dlapartners.com.au
General Advice Warning
The information provided is general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your GPS Wealth Ltd adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither GPS, nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.