FPA and AFA take on Gov together


The Financial Planning Association (FPA) and the Association of Financial Advisers (AFA) have continued their unified response to the post-Banking Royal Commission and professionalisation reforms industry landscape, yesterday meeting together with Senator Jane Hume.
According to the FPA, the two groups discussed “all things financial planning, including FASEA [the Financial Adviser Standards and Ethics Authority], the Royal Commission, and the Government’s agenda for the upcoming term of Parliament” with Hume, the new Assistant Minister for Superannuation, Financial Services and Financial Technology.
FPA chief executive, Dante De Gori, praised the unified approach on LinkedIn, with both groups having been equally represented at the meeting as himself, FPA chair Marisa Broome, AFA president Marc Bineham, and AFA chief executive Philip Kewin all attended.
“Thank you to new Minister Senator Jane Hume for a great meeting. Thanks to the AFA team in agreeing to do this meeting jointly as it helps to promote unity and solidarity for the profession,” he wrote on LinkedIn. “Many important issues raised and discussed and we look forward to continuing the dialogue to achieve workable and practical outcomes for members.”
This followed the two member groups announcing a joint taskforce into the Life Insurance Framework and making an application, jointly with the SMSF Association, to become the financial advice industry’s code-monitoring body.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.