KPMG joins FPA troop
The advisory offshoot of professional services giant KPMG has joined the Financial Planning Association (FPA) as a principal member, an addition which chief executive Kerrie Kelly said will give “tacit support” to the industry association.
“As the benefits that arise from the practices and standards being developed by new entrants such as KPMG Private Wealth, the sector itself will evolve more quickly,” Kelly said.
“It reconfirms the positive messages of support the board and executive are getting that the Financial Planning Association strategies developed earlier this year are capable of making real change.”
Kelly described KPMG Private Wealth as “strong, professional and independent”.
The addition of KPMG as a principal member comes at a time when the industry organisation is working hard to turn around the image of the financial planning profession, including through its new code of conduct on soft dollar remuneration.
The confirmation of KPMG Private Wealth’s membership brings the total number of FPA principal members to 586.
Recommended for you
The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered.
Rather than taking a controlling approach, the latest generation of overseas private equity deals is helping advice firms to achieve their growth ambitions, three commentators have said.
Private wealth firm Fitzpatricks Group has appointed a newly created head of product, who previously spent 20 years at CFS, to bolster its range of investment options.
The Financial Services and Credit Panel has made a written direction after advice regarding non-concessional contributions meant an individual was forced to withdraw over $330,000 from their super.
