In comparative terms, the Financial Planning Industry in Australia has a short history indeed.

It was borne mainly through Investment and life Insurance product advice from the two large Life Insurance Companies AMP and National Mutual Life (now Axa) from around the 1920's and gained momentum in the 1970's when International fund Managers such as BT opened offices in Australia.

Righty or wrongly, this promoted a sales culture in the Industry, and it is only in the last decade or so that holistic financial planning advice has emerged.

Obviously, holistic advice includes tax implications which puts Accountants on a sound footing to set up systems to cater for this increased demand.

Most Accountants know that they need to hold an authority from an AFSL if they are to engage in many activities that traditionally formed part of an Accountant's core business, and which were not regarded as being part of a financial planning or investment advice business. This includes advising on self-managed superannuation funds and commenting on how certain types of investments compare with each other.

MCA has three, relatively low cost levels of authority, and we consider the model to be culturally suitable and sustainable to any Accounting Practice that has been thinking of entering the Industry.
If nothing else, in this increasingly competitive and cost conscious environment, it provides you with an alternative to the full service Dealer model. 

Looking forward, and with the major industry trend being the transition to a fee for service model, we believe our low cost, efficient model will become increasingly popular with discerning current and future Financial Planners.