Financial Planning is a natural business fit for many accountants, and offers the opportunity of both an additional income stream and also the potential to add significant value to a business. HNW Planning, the AFSL we work in conjunction with, recognises however that not every accountant desires to be a 'full-service' financial adviser, and hence offers the choice of either a 'full authorisation' or a 'restricted authorisation'.
Financial advisers with a full authorisation are able to give the full range of advice as allowed under the HNW Planning licence that they are qualified for and have demonstrated proficiency in.
On the other hand, accountants who wish to only give limited advice that is restricted to several specific 'traditional accountant' areas such as setting up or closing a down a SMSF, or contributing to superannuation, can apply to HNW to become a restricted authority financial adviser.