FPA pro bono program to support cancer patients in pipeline
A pilot program aiming to provide pro bono financial advice to those affected by cancer is being discussed between the Financial Planning Association (FPA) and the Cancer Council of New South Wales.
If approved by members, the program will see cancer patients from Westmead Hospital in Sydney referred by the hospital for pro bono advice from a FPA member.
Cancer Council NSW practical support unit manager Graham Newling said of the cancer patients who meet the criteria required to be eligible, there would likely be two categories of potential clients.
Newling said the first would be those who already have a relationship with a financial adviser and adjusting to changes to their income and assets as a result of cancer; and those who have no previous experience of professional planning and have no alternative access to professional financial planning advice.
The number of FPA members listed to give pro bono advice has jumped from almost 40 to over 100 advisers as a direct result of the Victorian bushfires.
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
