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Accountants and advisers are unlikely to escape paying thousands to comply with incoming mandatory education requirements, even if they’re only providing limited SMSF services, prompting serious concerns that the current guidance is not fit for purpose.
A host of new education requirements, set by the Financial Adviser Standards and Ethics Authority (FASEA), will be imposed on existing and new accountants and advisers who provide financial advice by 2024. For most accountants and advisers, regardless of postgraduate qualifications or professional designations, this will mean an additional one to three units of tertiary-level study.
Read the full article at SMSF Adviser.