{"id":34022,"date":"2016-08-03T00:04:42","date_gmt":"2016-08-02T13:04:42","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=34022"},"modified":"2016-08-03T08:34:29","modified_gmt":"2016-08-02T21:34:29","slug":"accountant-interest-in-advice-overstated","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/08\/03\/accountant-interest-in-advice-overstated\/","title":{"rendered":"Accountant Interest in Advice Overstated"},"content":{"rendered":"<p>Masses of accountants have not signed up for financial planning authorisations or licences because the advice they provide is different, the managing director of Certainty Advice Group, <strong>Jim Stackpool<\/strong>, has claimed.<!--more--><\/p>\n<figure id=\"attachment_30206\" aria-describedby=\"caption-attachment-30206\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2015\/07\/Jim-Stackpool.jpg\" rel=\"attachment wp-att-30206\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-30206\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2015\/07\/Jim-Stackpool.jpg\" alt=\"Certainty Advice Group Managing Director, Jim Stackpool\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-30206\" class=\"wp-caption-text\">Certainty Advice Group Managing Director, Jim Stackpool<\/figcaption><\/figure>\n<p>He said the long held territorial dispute\u2019 between accountants and financial planners will be a thing of the past and those who predicted a coming together of the two professions once the accountant exemption ended on 30 June were mistaken.<\/p>\n<p>\u201cThe industry experts got it wrong,\u201d Stackpool said, adding \u201cThe reason they got it wrong? It\u2019s simple. The advice is different.\u201d<\/p>\n<p>\u201cAcross all media outlets, experts were expecting thousands more than the few hundred accounting firms that applied for their own financial services license in advance of the June 30 exemption cut-off date,\u201d Stackpool said pointing to the 350 accounting firms, out of 8500, which had applied for a limited licence.<\/p>\n<p><strong>Scott Farmer<\/strong>, the principle of Bravium, a Canberra-based Certainty Advice firm said the idea of a dispute between the two professions has been overstated and accountants are more focused on their work than that of financial planners.<\/p>\n<h6>\u201cWe just don\u2019t see disputes in our world because we don\u2019t have any of the industry\u2019s incentive barriers affecting our advice.&#8221;<\/h6>\n<p>\u201cAccountants aren\u2019t thinking about us and our role as financial advisers. They will never do anything to endanger their trusted role, so logically they will focus on their accounting expertise. Any professional dispute has been overstated for years,\u201d Farmer said.<\/p>\n<p>His comments were echoed by <strong>Travis Martin<\/strong> of TWD, a Certainty Advice firm in West Perth who said any disputes were more likely to be related to issues of conflicted advice models within vertically integrated operations.<\/p>\n<p>\u201cWe just don\u2019t see disputes in our world because we don\u2019t have any of the industry\u2019s incentive barriers affecting our advice. Like the medical profession we seek to collaborate and find solutions that work for the client, the accountant and our firm,\u201d Travis said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Masses of accountants have not signed up for financial planning authorisations or licences because the advice they provide is different, the managing director of Certainty Advice Group, Jim Stackpool, has claimed.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,6,270,5,5622],"tags":[],"class_list":["post-34022","post","type-post","status-publish","format-standard","category-compliance-regulation","category-dealer-groups","category-remuneration","category-services","category-superannuation"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/34022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=34022"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/34022\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=34022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=34022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=34022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}