Accounting firm CPA Australia has unveiled plans to launch financial advice company, branded as CPA Australia Advice, to be set up as the firm’s wholly-owned subsidiary.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The business will position itself as an alternative to the bank-owned financial advice businesses that dominate the market and have been the subject of repeated warnings from the Australian Securities and Investments Commission (ASIC).
The new company will shortly commence the process of securing an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL) to operate as a financial services business.
The operation of CPA Australia Advice will be consistent with Section 923A of the Corporations Act 2001 and the company will comply with APES 230, the accounting profession’s standard for members engaged in the provision of financial planning services.
CPA Australia CEO Alex Malley said: "The company we are announcing today will set a new benchmark for professional and ethical conduct in making independent financial advice available to all Australian consumers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"Our focus will be on what is right for the person seeking the advice – not what is financially beneficial for the advisor.
"With our new company, CPA Australia Advice, we are making a watershed commitment to rebuilding the community’s trust and confidence in seeking the highest quality financial advice."
