Jacobs departs
One of IOOF's senior management team, Tony Jacobs, has left the company after the group decided to outsource its taxation advice.
One of IOOF's senior management team, Tony Jacobs, has left the company after the group decided to outsource its taxation advice.
Jacobs was the group taxation manager and has been retained as a consultant. He has formed his own taxation consultancy, with a client base that includes the Australian Friendly Societies Association.
"The restructure involved outsourcing IOOF's tax resources, which I supported, with future tax support services being provided by internal accounting staff and supporting external tax consultants," Jacobs says. "This move is designed to shift in-house fixed costs to external variable costs, to help manage operating expenses."
Jacobs was at IOOF for 13 years, joining initially as an accountant and forming the group taxation department in 1991.
Jacobs intends to use his experience to provide advice on taxation issues af-fecting the financial services industry, especially with GST implementation looming.
"There will be a lot of twists and turns involving GST and the financial serv-ices industry," he says.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
