IFSA fills deputy head position
TheInvestment and Financial Services Association(IFSA) has appointed a deputy chief executive officer, John O'Shaughnessy, following the recent decision by the then deputy Jo-Anne Bloch to relocate to the United Kingdom.
O’Shaughnessy, who commenced in his new role today, joins the industry association after an extensive career in the financial services industry.
Prior to joining IFSA, O’Shaughnessy held a variety of senior management roles withTower,AMP, Westpac, T&G and Colonial Mutual (nowColonial First State).
IFSA chief executive officer, Richard Gilbert says O’Shaughnessy will play an integral part within the peak association over coming years.
Gilbert says that it is O’Shaughnessy’s wealth of industry knowledge that makes him an ideal candidate to fill the pivotal role within the financial services representative body.
IFSA has been without a deputy chief executive since the departure of Bloch in February during which time it has been embroiled in debate withAssociated of Superannuation Funds of Australia(ASFA) over the disclosure and fee structures of superannuation and managed funds.
The failure to reach a full agreement with ASFA will result in the Government imposing its own fee model.
Today, a spokesperson for the office of Parliamentary Secretary to the Treasurer, Ross Cameron said the Government would continue to liaise with both IFSA and ASFA as it works towards a single fee model as there were a number of areas the two bodies were in agreement.
However the spokesperson was unable to indicate a time frame in which the model would be released.
Recommended for you
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
