FPA and AFA enter second spherical of member session

The Monetary Planning Affiliation of Australia (FPA) and the Affiliation of Monetary Advisers (AFA) have entered the second spherical of session with members on the proposed merger of the 2 associations.

The FPA and the AFA agreed in precept in September 2022 to discover a merger between the 2 associations, with a objective of making a united voice for the monetary recommendation occupation.

Just lately, members have been invited to finish a survey to assist information the event of a brand new identify for the proposed merged affiliation.  And this week, members have additionally acquired a merger abstract doc and a draft structure for the proposed merged affiliation, and are inspired to offer their suggestions.

Sam Perera, Nationwide President of the AFA, stated the boards of every organisation are gathering worthwhile insights from members by the session course of.

“We have now had the chance to fulfill and seek the advice of with many members across the nation, over the previous few months, and the message we now have heard is that members see the advantages of a merged affiliation offering a united voice for monetary planners and advisers.

“All members have now acquired private emails surveying their views on a brand new identify for the proposed merged affiliation and we now have appointed a branding company to assessment responses and develop a proposal for a brand new identify and model.

“It will be important that the identify of the proposed merged affiliation displays member views.

“Members now have the chance to assessment a abstract of the merger proposal, and the draft structure, and supply suggestions on these paperwork over the course of the subsequent couple of weeks.”

David Sharpe, chair of the FPA, stated this is a vital step within the member session course of.

“The second part of session permits members to assessment extra element on how a merged affiliation would function, and what it means for them as members of the FPA and AFA.  Their suggestions is essential to us and can assist information the subsequent stage of the method.

“In my discussions with members over the previous few months, it’s clear that efficient advocacy is the primary precedence for them.

“We consider a merged affiliation will lead to simpler advocacy and can create a unified voice which might converse for all members, in addition to the broader occupation.

“A merged affiliation may even enable extra and higher resourcing for members, together with occasions, group {and professional} requirements.

“The boards of each associations strongly consider {that a} merger is in one of the best pursuits of all members, and the monetary planning occupation, and it is going to be the FPA and AFA members themselves who make the ultimate determination on whether or not to merge.”

The following step shall be separate AFA and FPA consultative member webinars, which shall be held in late January, the place members can present any last suggestions earlier than voting will formally open in early February 2023. Voting will shut on the FPA and AFA EGMs on 28th February, and the outcomes shall be introduced shortly thereafter.

For the proposal to succeed, 75 per cent of members of each associations who vote might want to vote in favour.




In regards to the AFA
The Association of Financial Advisers Limited (AFA) has been the genuine voice on the worth of monetary recommendation for over 75 years. At this time, the AFA is a vibrant, modern affiliation, the place the underlying driver of coverage is the idea that nice recommendation transforms lives. To this finish the AFA is striving to attain the imaginative and prescient of Nice Recommendation for Extra Australians. The AFA’s ongoing relevance as an expert affiliation is derived from its success in partaking with the foremost stakeholders in monetary recommendation together with advisers, customers, licensees, product and repair suppliers, and the regulator and authorities. Culturally the AFA believes within the worth of collaboration to create highly effective outcomes and this drives how we obtain affect and work in direction of our imaginative and prescient.


In regards to the FPA

As Australia’s main skilled affiliation for the monetary planning occupation, the Monetary Planning Affiliation of Australia (FPA) represents the pursuits of the general public and nearly 11,000 members. The FPA is dwelling to Australia’s 4,900 CFP® professionals and is the one certification physique in Australia for the worldwide CFP® designation. Our proactive efforts in coverage, advocacy and authorities relations assist our objective to create a thriving monetary planning occupation and allow larger entry to monetary recommendation for all Australians. For extra info, go to: www.fpa.com.au


CFP®, CERTIFIED FINANCIAL PLANNER® and CFP Emblem® are certification marks owned exterior the US by the Monetary Planning Requirements Board Ltd (FPSB). Monetary Planning Affiliation of Australia Restricted is the marks licensing authority for the CFP® marks in Australia, by settlement with FPSB.