This week on UTH, Emma and co-host Lee-Ann Hayes are joined by Mark Ellem, head of SMSF education at Accurium, to bust some myths about Division 296 and chat through some of the technical specifics of the recently passed bill.

Tune in to hear more about:

• Mark's career journey and how he got to where he is today.
• Common Div 296 myths.
• The bill's unexpected impacts on estate planning.
• How Div 296 has affected technical complexity in SMSFs.
• Mark's advice for high-net-worth individuals.

You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.

Accountants in the past have suffered from information overload from the vast amounts of financial information collected from clients, but AI is now allowing them to interpret this data into simple, meaningful insights.

Leaders in Business managing director Brent Szalay and My Accounts CEO Noel Tiufino discuss what this means for the role of advisory as large language models continue to evolve at an exponential rate.

Szalay explains that just like a doctor with decades of patient records, AI is enabling accountants to efficiently identify patterns and potential risks from the financial data of clients "before they become chronic issues".

However, while AI can analyse the data and provide insights, Szalay stressed that accountants play an important role in bridging the emotional gap by understanding their clients' goals and values and supporting them in their journey.

Tiufino and Szalay also offer practical tips and tools including an adviser readiness quiz that can help practitioners evaluate where they may be falling short.

Leaders in Business: Don't guess where you sit on the advisory spectrum, test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.

On this episode of Accountants Daily Insider, Jerome is joined by Drew Pflaum, co-founder and chief executive of SavvyWise, to chat about how his company is helping accountants adapt to the AI-powered future.

The pair cover:

• Why early AI adopters have a real advantage.
• How AI can save time and alleviate burnout.
• Why success depends on implementation, not just tools.
• Drew's thoughts on how AI is reshaping the business model of accounting.
• How SavvyWise has been built by an accountant, for accountants.

If you would like to know more about SavvyWise and how it could help transform your accounting firm, visit the website here.