FPA addresses boutique representation fears

THEFinancial Planning Association(FPA), in an attempt to stave off criticism that it fails to fully represent its membership base, has appointed two staff to focus solely on servicing the needs of its small boutique dealer members.

FPA chief executive Ken Breakspear says the allocation of resources demonstrates the association’s commitment in meeting the specific needs of small dealers, particularly with regard to transitioning under the Financial Services Reform Act.

“The FPA is fundamentally committed to represent the needs and views of its boutique principal members, who equate to over 75 per cent of its principal membership base,” Breakspear says.

FPA policy and professional standards manager Christina Kalantzis and FPA operations and projects analyst Sumit Minocha have both been assigned the task of servicing boutiques.

Kalantzis, as the FPA’s small dealer in-house advocate, will co-ordinate the FPA’s small dealer initiatives, such as the state small dealer forums and compliance workshops. She has been acting in the role since March. Minocha will be the key contact for small dealers with any member service related issues.

“The FPA recognises the important role that small boutique dealers play in the advisory market and the need for a robust financial planning sector to provide choice for consumers,” Breakspear says.

“I strongly believe that we have the wherewithal to ensure that small and boutique dealers’ needs are met as part of the FPA.”