‘Vote yes for stronger adviser voice’: FPA chair
Financial Planning Association of Australia (FPA) chair, David Sharpe, has urged members to vote in the upcoming merger with the Association of Financial Advisers (AFA).
In a video update, Perth-based Sharpe, who took over as chair in April 2022, said benefits to the merger included stronger advocacy, effective education, embracing community, improved services and improved consumer awareness.
“A merger gives us a much stronger policy and advocacy voice to Government which is absolutely critical and, secondly, it also gives us a much stronger voice to and for consumers on the value of financial advice,” he said.
Members had received a draft summary and draft constitution late last year and there would also be a member webinar to discuss the merger on 25 January while one for AFA members would take place on 24 January.
“We don’t just want your support, we are going to need your vote.
“We want thousands and thousands of our members to vote because this will be a fundamental shift to our association.”
Voting would open in early February until 28 February and at least 75% member approval from both associations was needed for the merger to proceed.
AUTHOR
Laura Dew
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
Just what does a "yes vote" mean? What is this stronger voice going to say?