In its new white paper Melding accounting and advice: How to get future ready in a digital world, GPS Wealth found that the reputation of accountants still stands strong in the public eye.
“Accountants still hold the coveted position of most trusted adviser,” said GPS Wealth founder and director Greg Holman.
“They can play a more significant role in their clients’ lives and continue to be their primary trusted adviser, potentially in conjunction with a financial planner, by helping them secure a comfortable retirement and financial independence.”
Mr Holman said that, as a result of digital disruption and changing consumer demands, the opportunity for accountants and financial advisers to work together has never been greater.
“Digital disruption will destroy accounting practices that are inefficient, inflexible and provide a low level of service,” he said.
“A look at what’s happened in other industries demonstrates that no one can afford to stand still. The only way to combat it is to continuously add value and grow organically by steadily increasing fees in line with increasing value.”