GPS Wealth launches app to assist accountants

The web-based application can provide users with a better understanding of their licensing needs and requirements under the government's new regulatory framework, effective from 1 July 2016, in as little as 60 seconds.

By completing a simple questionnaire, accountants will be given the information they need to begin the licensing process, said Greg Holman, director of GPS Wealth and the app's creator.

"Having spoken to hundreds of accountants in the last 12 months, we've learned that there's a lot of confusion, misinformation and a general lack of information in the market around licensing which is why we developed this app," he said.

"Our goal is to educate accountants on their licensing options because time is ticking away. Getting ready for the new regime doesn't have to be complex or expensive and the app aims to make it easy for accountants to move forward with confidence."

After they complete the online questionnaire, a qualified accountant will contact accountants within one business day to confirm their licensing needs and explain their options in detail.

GPS Wealth, established by Mr Holman and Rob McGregor, is a specialist financial services dealer group which currently provides licensing and compliance services to more than 100 financial advisers and 70 accountancy firms nationally.

More than 49 accounting firms have applied for a limited authority from GPS Wealth in the past year, with more than 104 accountants attending the group's two-day RG 146 courses.