FPA to reach out to consumers
By Ross Kelly
GETTING the public to understand the benefits of financial planning, boosting the reputation of the Certified Financial Planning (CFP) designation and improving communication with members are among the chief goals the Financial Planning Association (FPA) has placed on its 2005 to-do list.
Meeting for the first time under the chairmanship of Kathryn Greiner, the FPA board identified these as the strategic areas it believes will be the association’s top priorities in 2005.
Other priorities identified by the board included frequent face-to-fact contact with members through state chapters and committees, forging stronger relationships with government and regulators, and helping members become more professional.
Greiner said it was also important for the profession to reach out to consumers.
“FPA membership is an essential asset for financial planning practitioners. We will continue to represent member interests to government and regulators and raise the level of professionalism in the sector. At the same time, we must reach out to the community in an effort to increase consumer understanding of the need for, and value of, financial planning,” Greiner said.
According to an FPA spokesperson, the association would also place strong emphasis on enforcing FPA standards, including the code of practice on alternative remuneration and the new principles on conflicts of interest, which the spokesperson confirmed would be released in about two weeks.
“In 2004, we had to refocus our priorities and we made that big move of trying to focus on delivering value to members. But this year it’s really more of the same, but building on what we did last year and making sure we can add value to that,” the spokesperson said.
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.
