From the 1st July 2016 it is prohibited by legislation for accountants to provide advice on SMSFs, unless they have an Australian Financial Services Licence (“AFSL”) issued by Australian Securities Insurance Commission (‘ASIC’); or be an authorised representative of another AFSL holder.

SMSF’s has now become a specialist area and so far the feedback we have been receiving, only a small percentage of accounting practices

in Australia have applied for an AFSL license to provide advice in the area of SMSF in accordance with the new changes. The process to obtain an AFSL license is extensive and time consuming, and one needs to satisfy a very stringent number of criteria, in particular experience, technical knowledge, educational qualifications and financial stability.

Vlassis & Co are happy to announce that we have been issued with an AFSL license through its associated entity “VCO Super Wealth Pty Ltd and look forward to continue in providing you with the best value in servicing your self-managed superannuation fund requirements .

Trevor Vlassis has been appointed as an authorised representative of VCO Super Wealth Pty Ltd (“VCO”).

Please find enclosed the financial services guide which outlines the advice Trevor can provide you, including processes and procedures. We are required to comply with the Corporations Act when providing you with SMSF advice,

and so any advice provided will be documented in a Statement of Advice (“SOA”) or Record of Advice (“ROA”) and filed for future reference.

It is also the intention of Vlassis & Co and VCO Super Wealth Pty Ltd to appoint other authorised representatives within the Practice to cater for the future growing needs of our clients.

Please contact us if you have any queries regarding the above.