TheFinancial Planning Association’sNational Compliance Committee and Professional Standards National Advisory Committee chairman James Doogue will step down from the post in November.
Doogue notified the FPA two weeks ago and says his resignation will be effective from the conclusion of this year’s national conference in Brisbane in November.
In his letter of resignation to the FPA Doogue says there were a number of reasons behind his decision but key factors were the sale of his business last year due to a bout of ill health.
Earlier this year Home Financial Planning which is a subsidiary of Home Building Society, purchased Doogue’s business, James Doogue Securities, with the bulk of the funds under advice as well.
The sale came about due to health problems for Doogue for which he travelled to the US to seek treatement. According to Doogue the surgery, related to respiratory problems, was successful but he says further tests and travel to the US in the new year is a possibility.
As a result of this Doogue says he will not make any firm plans for the near future and as such it would be difficult to focus on his roles within the FPA.
He also says that after the sale of his business he retained a dealer’s licence and will continue to service a small number of clients on a part time basis but stresses this differs from running a full service dealer group.
“This is a far cry from operating a much larger financial planning practice with other staff and proper authority holders. I now feel less in tune with the needs, concerns and pressures of other FPA dealer and practitioner members,” Doogue says.
However Doogue says his decision to stand aside would also benefit the FPA as he says there are a number of qualified people seeking roles in the organisation and some of those “may relish the opportunity to take on the chairmanship or committee membership roles that I am vacating.”
Doogue has held a number of positions with the FPA including WA State council and FPA board positions as well as chairing DFP subject committees and being involved in the development of the Diploma of Financial Planning and writing the first edition of DFP 8.
