Update – ESV Obtains Australian Financial Services License

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Update – ESV Obtains Australian Financial Services License


Following legislation changes in relation to the provision of financial services advice, ESV has applied for and been granted an Australian Financial Services (AFS) license.


Previously, accountants were permitted to provide a range of advice to clients including self managed superannuation fund (SMSF) holders without being required to be licensed under the AFS licensing regime, as part of the “accountants’ exemption”.


From 1 July 2016, the accountants exemption is not longer available and therefore accounting firms now need to hold an AFS License in order to provide certain types of advice.


In response to these changes, ESV has been granted an AFS license and will be able to continue advising clients in the same manner and on the same range of issues as in the past.


Under the new regime, ESV will continue to provide specialist advice to individuals, working with financial planners and other advisors on all matters.  As a consequence of the ASIC imposed changes clients may receive additional correspondence from us, however, the timeliness and quality remain unaffected.


Should you have any questions in relation to the above, please contact your ESV Engagement Partner on 02 9283 1666.