The landscape of financial advice is evolving rapidly, and 2024 marked a significant milestone in the adoption of digital advice solutions. With increasing demand for accessible and affordable financial services, accounting firms and financial planners have embraced digital advice as a powerful tool to enhance client offerings and drive business growth. As we step into 2025, this trend is set to accelerate, offering exciting opportunities for the accounting profession.

How Digital Advice Transforms Accounting Practices

Digital advice is no longer a fringe innovation; it has become a mainstream solution that empowers accountants and financial advisers to:

• Deliver personalised financial strategies efficiently and at scale.
• Provide clients with affordable, single-topic advice tailored to their needs.
• Strengthen client relationships by offering integrated, holistic solutions that complement in-house services.

For accounting professionals, these tools are a game-changer. By integrating digital advice platforms, accountants can assist clients in improving their financial situations, navigate complex regulations, and confidently plan for the future.

Innovations in SMSF Analysis for Accountants

Self-managed superannuation funds (SMSFs) remain a cornerstone of many accounting practices, and innovations in digital analysis are transforming how SMSF services are delivered. The SMSF Check-Up Report (SCU) is an example of a tool that streamlines SMSF analysis, providing accountants with a factual report in under a minute.

This report delivers insights into critical areas of an SMSF, helping accountants to:

• Identify opportunities for additional tax and financial planning advice.
• Strengthen relationships with SMSF clients by offering valuable insights.
• Increase revenue by packaging the SCU report as a value-added service.

Accountants administering SMSFs can offer this report as part of their service package, enhancing the client experience while bolstering their practice. With the SMSF industry valued at over $1 billion as of September 2024, tools like these are more relevant than ever.

Preparing for Financial Advice Trends in 2025

The accounting profession is uniquely positioned to deliver financial advice to Australians seeking to secure their financial futures. However, many accountants are caught up in the daily demands of compliance work, leaving little time to explore new opportunities. By leveraging digital tools and platforms, accountants can step beyond compliance and offer services that truly make a difference to their clients.

Key steps accountants can take to prepare for 2025 include:

• Exploring digital advice platforms that align with their practice’s needs.
• Integrating tools like the SCU report to offer innovative SMSF services.
• Prioritising client education and communication to build trust and engagement.

Take the Next Step

As the demand for financial guidance continues to grow, accountants have the chance to lead the way in providing affordable, accessible advice. By embracing digital innovation, you can create a more impactful practice and deliver the financial solutions your clients need.

Explore how digital tools can transform your accounting practice in 2025 and beyond. Don’t miss the opportunity to elevate your services and strengthen your client relationships.

Interested to Learn More

• Call 1300 24 24 42 to speak to a GPS Coach about our digital services for SMSFs and individual clients or;
• Schedule a Zoom meeting with a GPS Coach to get your questions answered.

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