GPS Wealth brings in 30 accounting practices

About 30 accounting practices have joined non-aligned dealer group GPS Wealth in the past year, with a majority choosing to work under a limited authority licence.

In addition, more than 70 accountants are expected to attend the group's two-day RG 146 course, according to a statement by GPS Wealth.

Greg Holman, GPS Wealth co-founder, said demand for the course is "ramping up" with the removal of the accountants' exemption less than a year away.

"There'll be an explosion of accountants looking to become licensed for the first time, ahead of 1 July 2016," he said.

"Accountants who get licensed early can get a big jump on their competitors and demonstrate that they are a true leader in the accounting profession."

To keep up with the demand, GPS Wealth is doubling the number of RG 146 courses it offers, the statement said. From August, the group will run two courses per month, covering generic knowledge, superannuation and self-managed superannuation.

"Accountants are busy, so they like the fact that they can knock over the RG 146 course in an intensive two-day workshop and have an enjoyable learning experience in the process," Mr Holman said.

The course also offers an induction program which details the regulatory compliance framework and what will be required of accountants in a year's time.

The program examines the financial opportunity and the various, practical options for accountants to offer comprehensive wealth management advice to their clients, the statement said.

"The new licensing requirements should be seen by accountants as a tremendous opportunity to expand their service offer, provide a more holistic proposition, diversify and lift their revenue, and boost the valuation of their practices," Mr Holman said.

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