AFA treasurer Deborah Kent says the new committee was launched less than a month ago.
The AFA has also created a separate professional standards committee and will fill both groups with experienced people, Ms Kent told reporters last week at the AFA 2016 National Adviser Conference in Canberra.
There will be 10 people on each committee, including a chair, deputy chair and secretary. The groups will be charged with reviewing submissions made by the AFA that relate to life insurance and professional standards, and making recommendations.
“This is about engaging our members and allowing them to have their own committee so that they can come back to the AFA and help us from a policy and political position,” Ms Kent said.
“Let’s say it’s something on life insurance, [the submission] will go to that committee so they can also have a look and give their feedback on it.”
Meanwhile, Ms Kent welcomed the new AFA president Marc Bineham.
“With all the wealth of experience that Mark has got, I can assure you that this board will continue to be great under his terrific leadership,” she said.
Mr Bineham said he was looking to continue the work the AFA has been doing.
“Yes, we can do things better. Of course we can. We are looking to engage our membership with fresh ideas.”
What’s the old saying about closing the barn door after the horse has bolted? This announcement by the AFA is an acknowledgment that Risk Advisers have not been properly represented during the LIF process. Perhaps Kelly O’Dwyer should be informed of that directly by the AFA.