Will Glenfield deliver more clarity on code?

25 November 2019
| By Mike |
image
image
expand image

Amid continuing adviser concern about the Financial Adviser Standards and Ethics Authority (FASEA) code of ethics, the Financial Planning Association (FPA) is promoting the fact that FASEA chief executive, Stephen Glenfield will be appearing at the FPA’s national congress this week to explain the authority’s position.

And amid suggestions from some quarters of the advice industry that the Australian Securities and Investments (ASIC) may have influenced the code, the FPA has confirmed that a Glenfield will be sitting alongside an ASIC representative and a Tax Practitioners Board (TPB) representative in a regulatory workshop.

The FPA congress is occurring at a challenging time for the organisation with its annual report confirming declining enrolments for its Certified Financial Planner (CFP) designation, the Government’s decision not to proceed with code-monitoring bodies and with adviser numbers across the industry generally declining.

Despite the general decline in adviser numbers, the FPA annual report pointed to 1,530 new members albeit that membership subscriptions were down on 2018, alongside so-called partner fees and the CFP program.

In his statement accompanying the announcement that Glenfield would be discussing the code of ethics at this week’s conference, De Gori said FPA members were seeking greater clarity about the code.

“This will be the first time that financial planners have the opportunity to hear direct from FASEA since the code of ethics guidance was released in October,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago