WealthRecords is live…
Well, it has been quite a journey to reach this milestone, but congratulations to all those involved in launching the newest member of the befree Global family – WealthRecords! From a seed of an idea in 2024 to launching an entirely new business by EOFY, it has taken an enormous amount of effort, commitment and energy from many individuals to reach its inception.
I would like to personally extend a deep gratitude to Viral Kanabar for his support and enthusiasm for the project, and immense thanks to Annette Sheppard – our Executive Consultant and champion of WealthRecords, without whom none of this would’ve been possible. Annette’s expertise, guidance and long hours committed over the last six months have been pivotal in building WealthRecords, as has her work ethic – going above and beyond for the team no matter the circumstance! As you now enjoy a very well-deserved break, Annette, I hope you enjoy seeing what you have built, and again, my endless appreciation.
Website & Brand
The marketing team have managed to achieve a fantastic outcome under tight timeframes to go live with our website www.wealthrecords.com.au, and I encourage you to have a look at what we are bringing to the market under the new banner. Essentially a targeted, end-to-end solution for financial advisers and the wealth management sector for all things SMSF. As we grow, you will see our offers expand and evolve, and we would love to hear your feedback. Feel free to drop me a line with your thoughts, or you can email the team any time at info@wealthrecords.com.au.
The WealthRecords Team
The foundational WealthRecords team have been busy creating new systems, processes and getting up to date on all things Wealth! Headed by Vikram Chauhan, bringing a depth of experience in SMSF and commitment to excellence, the whole team, including Paresh, Hemlata, Dev & Harpalsinh, have been eagerly diving into the training and are almost ready for our trial clients. Our new version of the portal has undergone significant development to facilitate the WealthRecords solutions – thanks to Mayur, Rajesh and Vikram for their efforts to date.
The Wealth Sector
As the hub for all things financial advice, we will try to keep you updated with what else is happening in the broader financial services market.
With EOFY upon us – contribution deadlines have been front of mind for most advisers, but the last few weeks have also seen lots of discussion on the proposed div 296 changes, which look to be proceeding through government. While this is a fundamental change to taxing of earnings and has ramifications for superannuants, it also poses a much needed advice opportunity with advisers looking to wealth providers for support.
https://www.smsfadviser.com/news/24593-valuation-and-div-296-can-present-auditors-with-challenges-technical-expert
Also looming is the 1 January 2026 deadline on Financial Adviser qualification standards, with some advisers choosing to leave the sector. For those that have met the requirements we expect to see a busy next 6 months as they capitalise on all the learning completed and licensees focus on growth with their new qualified cohorts.
https://www.ifa.com.au/news/35905-kaplan-launches-accelerated-course-as-education-deadline-looms
And finally, AFCA has made their position clear on Wholesale Investor classification – broadly that with any advice to an SMSF trustee they must be treated as a retail client unless the SMSF exceeds $10m in assets. This is a significant change from the previous $2.5m thresholds and an important consideration for those HNW funds.
And that’s a wrap for our first edition. Thanks again to all involved to date, and we look forward to your continued support and interest in WealthRecords.
Make sure you follow us on LinkedIn for all the latest in WealthRecords news!
https://www.linkedin.com/company/wealthrecords
Kind Regards,
Sarah