Accountants not lagging on licensing, trainer argues

Kaplan Professional chief executive Brian Knight says while there has been a low take-up of limited licences, the number of accountants completing training to become authorised representatives has been considerably higher.

“The numbers of [accountants] were very big for us in the last six months of 2015 and the first three months of this year,” he told AccountantsDaily’s sister publication SMSF Adviser.

Mr Knight said the number of accountants completing courses to provide full financial advice is equal to the number of accountants undertaking courses for limited advice.

“What we’ve tended to find is that the early adopters have tended to do the full financial advice program,” he said.

Accountants undertaking training in the past year, however, have instead chosen to complete courses for limited financial advice.

Mr Knight added that accountants have excelled in the financial advice courses, particularly across its more intensive programs, with pass rates "extremely high”.

The take-up of RG 146 courses has been highest among younger accountants who already have experience of traditional accounting disciplines in degrees such as economics, finance and business.