Accountants share the love…with one adviser

by |

Accountants are increasingly choosing to refer SMSF clients to one trusted source, rather than multiple advisers.

This is according to the OneVue/Investment Trends 2013 SMSF Accountant Report. The number of accountants preferring one single referral partner has increased 6% over the past 12 months, to 28%.

According to the report, 85% of accountants have SMSF clients with investment-related queries, so having the qualifications or the contacts to provide that advice is a valuable service advantage.

OneVue head of partner solutions Brett Marsh says that clients being referred to a third party expect to meet someone who is skilled in SMSFs and who their accountant has confidence in.

“If accountants are going to encourage SMSF clients to engage with a new specialist, having a trusted relationship with that specialist is vital both in terms of client satisfaction and client retention,” Marsh said.

Referral specialist Bill Cates says that one valuable tip for advisers looking to build a referral relationship is to take the accountant through their advice process.

“They have to really know the value provided, and one great thing you can do, for accountants, lawyers etc. is put them through your process, just a little bit – let them see what your process looks like.”

“It’s not just the relationship between accountant and adviser that’s important though, it’s also the means by which they can work together,” says Marsh.

OneVue launched an accountant login so that accountants can also get online access to comprehensive reporting documents that have been received throughout the year, portfolio valuations and BGL Simple Fund download files.

 “These initiatives allow the accountant who the adviser is working with to view the client’s investment portfolio and more efficiently complete the accounting, compliance, audit and lodgement as required.

 “We see that there is a growing importance being placed on adviser and accountant relationships and it is something that service providers need to support and make simpler going forward,” Marsh says.

More stories:

Ten vital steps to referral success

Advisers safe from accountant take-over

Knowledge is key for SMSFs