Advisers certified under the AIOFP-owned Certified Financial Strategist designation will now be eligible for referrals from National Tax and Accountants Association members.
The NTAA has announced it will not be offering members a full AFSL option ahead of the end to the accountants’ licensing exemption and will instead be referring clients for full financial planning services to CFS advisers, according to a statement from the AIOFP.
“This decision was based on a preference from members seeking only to continue advising on the SMSF structure, creating the potential for more advice relationship opportunities for our CFS advisers,” the statement said.
The referral arrangement reflects the movement of the alliance to “stage two”, having announced a formal partnership earlier this year and introduced NTAA members to the CFS program at the recent ‘super school seminar’ events.
In order to become accredited under the CFS program, advisers need to be independently-owned; use a “non-conflicted research source”; have undergone ASX training; have a minimum of three years’ work experience and a relevant tertiary qualification.
“Financial advice is more than just having a tertiary education,” says a CFS information brochure.
“Professional advice is very much about eliminating conflicts of interest, having the ability to act in the best interests of your client without fear or favour and avoiding product failure/poor advice.”
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