Fewer than 400 accountants in Australia will be licensed to provide self-managed super fund advice from July, which is just over 1 per cent the number who were advising in this area a couple of years ago.

From July 1, accountants will need either a limited licence from ASIC or to work under the authority of an existing licensee, such as a financial planning group if they wish to continue to provide the sort of SMSF advice they have been freely able to give until now.