FPA offers olive branch
TheFinancial Planning Association(FPA) board of directors will meet on Monday with four ‘leading’ consumer advocates to aid it in taking account of consumer concerns and issues in its decision making process.
The FPA will meet with the Australian Consumer’s Association, the Consumer Law Society of Victoria, the Financial Services Consumer Policy Centre and consumer consultant Dennis Nelthorpe.
According to the FPA, the meeting will allow the board and consumer advocates to discuss initiatives and help rebuild the bridges that were burnt between itself and the consumer movement following theAustralian Securities and Investments Commission(ASIC)/Australian Consumers’ Association(ACA) report into the quality of advice earlier this year.
The FPA hopes to promote closer relations with consumer groups going forward, with chief executive Ken Breakspear hoping the meeting will result in increased consumer participation in the decision making processes of the FPA.
Breakspear will like to see this meeting as the commencement of an ongoing “consumer consultative” relationship.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
