Aura takes majority stake in accountant-licensing group
With the accountants' exemption set to be removed on 1 July 2016, the Aura Group, has taken a majority stake in accountant-licensing and training provider, Accountable Financial Group (AFG).
Aura Group managing director, Calvin Ng, said AFG's business model was attractive, as accountants will need the appropriate Australian Financial Services Licence (AFSL) if they want to continue to provide advice on self-managed superannuation funds (SMSFs) to client after 1 July next year.
"The business model of AFG is attractive as it provides clients a genuine end-to-end solution with the ability to tailor very basic or comprehensive solutions to meet the needs of all accountants," he said.
"While the accountants' exemption is still over a year away from being removed, we are beginning to see rising demand for AFG services as accountants' up-skill to better align with client needs."
With a client-base representing more than 2000 SMSFs with almost $1 billion in assets under advice, NG said there was significant potential for AFG to grow.
AUTHOR
Nicholas O'Donoghue
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