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When Financial Planners and Accountants Collaborate – YOU WIN

5 March, 2018 by David Armstrong David Armstrong // Accounting

This article is published by Modoras Accounting (SYD) Pty Ltd

Arm yourself with many perspectives; create diversity among your professional advice team. And experience the power of having a team of financial professionals working together to create your lifestyle potential. 

Financial Planners and Accountants

Financial Planners and Accountants

Financial Planners and Accountants working together means: 1+1=3 or even 5

In the past, Financial Planners and Accountants have not always worked well together. In firms like Modoras, these two financial professionals are now complementing each other. So you can experience the dynamic combination of Financial Planners and Accountants working as one towards a common goal (your lifestyle potential). A team of financial experts sharing their skills and experience is far more valuable to you than an Accountant and/or a Financial Planner working independently. Why? For many reasons but often simply because of professional pride. When finance professionals work together, 1+1 can really = 3 or even 5. They bounce energy and ideas off each other, turning every stone to find what more is possible for you. They don’t compete, they complement one another. Each professional has a different qualification, a different expertise and a different lens to help you. This is the way we work at Modoras, both Financial Planners and Accountants (for personal and business matters) know each other’s skill sets so well that working collaboratively comes as second nature.

What an Accountant might be best at

Accountants may be qualified as a CPA or CA, but unless they are authorised as a representative under an Australian Financial Services Licence (AFSL), they cannot provide financial strategy nor financial product advice. They can advise on plenty of other business and personal related matters, like tax planning, advice and strategy (GST, CGT, Income, Sales and many more) as well as depreciation, and small business advice like business advisory, business structuring, business insurances, budgeting and reporting compliance2.

While the tax and reporting side is important to do well and get right, the area where a great deal of value will be added, is in business advisory. Business advisory specialists can advise you on the best practices for your industry, business and situation. We can provide a complete picture of where your business is today and how to get it to the next level. Modoras business advisory specialists assist businesses with cashflow management, growth planning and projections, risk management and succession planning.

How your Financial Planner will add the most value

With financial strategy advice that is tailored to your financial circumstances. Before they give you any advice, they will ensure they find out as much as they can about you and your financial goals2. They will also (if appropriate and with your permission) speak to your Accountant to get an idea of what your personal or business financial situation is, so they can take this into account when developing a plan for your financial future. Your planner can also help you protect what’s most important to you. Perhaps through structuring your wealth and/or insurances such as life, critical illness, total and permanent disability and income protection.

Financial Planners and Accountants Teamwork

This is the kind of teamwork you’re seeking between your finance professionals.

Good things happen when Accountants and Financial Planners work together

Modoras was built on the foundation of co-operation between financial professionals. Our success rests on seeing the value of sharing knowledge and skills. So invite us along on your financial journey. You’ll be amazed how far our expert guidance can take you.  Call us on 1300 888 803.

Over to you

Do you like your Accountant and Financial Adviser to work together? Or do you keep them separated? Let us know in the comments. If you liked this article please share.


  1. Mansfield FP – June 2017: Accountant vs Financial Planner
  2. American Express – Small business Articles: The difference between your Accountant and your Financial Planner.

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This article is published by Modoras Accounting (SYD) Pty Ltd ABN 18 622 475 521 This article contains general information only and is not intended to represent specific personal advice (Accounting, taxation, financial or credit). No individual personal circumstances have been taken into consideration for the preparation of this material. It is recommended that you obtain your own personal professional advice before making any financial or business decision.

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