New FPA strategic plan gets the nod
Voting members of the Financial Planning Association (FPA) have approved of the association’s new three-year strategic plan that will raise professional standards and increase education requirements.
FPA chair Matthew Rowe (pictured) said the new plan was supported by 94 per cent of votes at an extraordinary general meeting in Melbourne yesterday, enabling transformational change and giving the FPA the mandate to aggressively pursue its vision of a genuinely professional association for members.
“This is the long-awaited beginning for our members to rebuild trust in their community that professional financial planners take utmost responsibility for delivering on a core promise of professional and ethical behaviour,” said Rowe.
“This requires all FPA members to not only act in the public interest, but be seen to do so. It also means we as a professional body will set upward education requirements, endorse higher standards and adhere to a strict code of professional practice.”
FPA chief executive Mark Rantall said the new strategic direction would provide financial planners with a consistent voice and build the reputation of the profession as a whole.
The meeting also saw the approval of the FPA’s intention to remove the principal membership category, which received 87 per cent of principal members’ votes. As a result, only individual planning professionals will have the right to vote.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
