Last month, digital investment adviser and fund manager Stockspot launched its Partner Program for Accountants.
Stockspot began giving their customers the option to give their accountants access to their portfolios last year, following demand from their user-base.
“A lot of our clients were asking us if we could give access to their investment to their accountants, so their accountants could help them do their taxes and work out structuring and all that stuff that we don't actually provide advice on,” Chris Brycki said, founder and CEO of Stockspot.
“So we decided to build a platform that allowed accountants to see all of our current clients’ portfolios, where the client wants to give the accountant access.”
However, Stockspot has now made the partner program available to all accountants as a tool to refer their clients to rather than send them to a financial planner.
“We decided there was good opportunity there to open up what we [are] to accountants, especially accountants who don't actually want to provide the investment advice,” he said.
“A lot of them haven’t been getting the licensing to provide financial advice, so there’s plenty of accountants out there that don't actually want to provide financial advice but still want to have conversations with their clients about saving and growing their wealth and how to be structuring that and the tax implications.”
This means that the accountants won't need to actually provide the advice, but can still get access to their clients’ portfolio and investment strategy and risk profile.
Turning year-end conversations into advisory work
By Tracey Loubser, Confident Cashflows PLUS
Young accountants and the future of our profession
By Paul Hilton, Power Tynan
Tips for managing change in your firm
By Louise Pope, Aequalis Consulting