Search is on for FPA chief
A high level committee has been set up to fill the top job at the Financial Planning Association (FPA) in the wake of the departure of chief executive Mi-chael McKenna.
A high level committee has been set up to fill the top job at the Financial Planning Association (FPA) in the wake of the departure of chief executive Mi-chael McKenna.
The committee is headed up by FPA chairman Ray Griffin alongside incoming chair-man John Hewison, independent FPA director David Elsum and FPA director Kevin Bailey.
Hewison says the committee is interviewing executive research agencies with a view to settling on the successful agency by next week.
While Hewison did not disclose the names of the executive search agencies the committee is considering, he says they are "down to a short list of three and will decide on one next week."
"We'll wait for the executive search to put forward candidates and interview those who fit the criteria," Hewison says.
"It's a very important role, so we don't want to rush into it."
To assist the committee in their task, a chief executive job description has been developed. Hewison says the job specification is much more detailed than those used to appoint previous chief executives.
"In previous years the candidates went through a similar process. There was a job spec, but this year we reviewed the old specification as a matter of good business practice."
"The criteria is fairly broad. What we are looking for is a person with CEO ex-perience in a broad range of organisational management environments. Trhe candi-date should also be able to communicate with industry members, government and other professional organisations," he says.
The Committee was devised by FPA chairman Ray Griffin in consultation with the FPA board. Elsum, an external director who sits on the board was chosen for his broad experience in corporate governance and management.
Bailey was chosen for his involvement in a task force that reviewed the brief and the job description.
AUTHOR
Recommended for you
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
