NTAA spruiks dealer group services

In an email communication dated 3 July, obtained by ifa, the association claimed that “large financial institutions” have waged war on “small accounting practices” and that the association’s advice entity, NTAA Advice, is the antidote.

Singling out AMP’s push into the self-managed superannuation space, the NTAA email said accountants were facing a “full on offensive, a blitzkrieg” which has allegedly been launched to “entice clients away from their most trusted adviser and into the arms of a huge financial empire”.

“Now is the time to resist this offensive,” the email stated. “The NTAA has assembled an arsenal for you to protect your clients and look after their retirement savings.”

The email then goes on to list the services offered by NTAA to assist accountants moving to new licensing arrangements as the accountants’ exemption comes to an end.

“We have an AFSL which you can join for only $250 a month and which won’t require you to sell any product,” the email states.

“For those that want to help clients plan their investments for retirement we will have a competitively priced investment platform solution available – this will only need accreditation with certain sections of a full RG 146 (which we have arranged to be available at a discounted price).”

Take-up of these services will make you “fully armed and ready to meet this threat head on”, the email claims.

The email reveals that several weeks before it launched a blatant public attack on the integrity of financial planners, the NTAA was privately marketing the services of NTAA Advice to its database.

The NTAA has still not responded to a request for interview.