This Proper authority allows the Accountant to discuss Investments and self- managed Super funds and to prepare detailed written "Statements of Advice" in a form that complies with the Investment Advice law. The written reports must be cosigned by a Director of MCA Financial Planning.

There is no need for any previous industry experience provided the Accountant is a member of a recognized accounting body and has adequate professional indemnity insurance under that body's rules.

The accountant has to comply with the minimum training standards for persons who provide financial product advice to retail clients under the Investment Advice Law, as set out in ASIC Policy Statement 146.

The intermediate proper authority costs $8,000 p.a. (plus gst) payable in monthly installments. Additional charges of $100 per cosigned SOA applies.

No professional indemnity insurance is required for this authority.

However if the Accountant has had previous Financial Planning experience  MCA would prefer that a full authority be obtained.

The intermediate authority appeals to accountants who want to do a bit more for their clients in the area of financial planning, who do not want to refer work on to other persons, but who do not want to commit to a full scale financial planning practice.

It also appeals to accountants who want to develop a financial planning practice at a steady pace , without incurring excessive start up costs.

<< Back to How We Help You