Beyond Blue and AFA concerned about FOFA fallout

With the Government’s proposed Future of Financial Advice (FOFA) changes weighing heavily on many planners, the Association of Financial Advisers (AFA) has entered into an arrangement with the national depression and anxiety initiative Beyond Blue.

The arrangement, confirmed by AFA chief executive Richard Klipin (pictured), follows on from his organisation’s concerns about the level of anxiety and depression emerging in the financial advice profession.

“The environment our members operate in is changing, highlighted most recently by the FOFA reforms,” he said. “These changes have the potential to impact profoundly on the way our members operate.”

Klipin said the AFA recognised the relationship between changes in the workplace and people’s mental health, and would like to take a proactive step towards helping members become more aware of depression and anxiety.”

Beyond Blue deputy chief executive Clare Shann said periods of substantial change and stress could put people at risk of developing depression and anxiety.

“It is critical that employers take a proactive approach to managing mental health in the workplace,” she said.

Shann aid the AFA and Beyond Blue recognised that small to medium business owners, who make up the majority of the AFA members and their client base, might be particularly at risk.