The two positions, head of advice and head of operations, are being advertised via Seek.com.au. A spokesperson for the accounting body told ifa that the new roles represent “unique leadership opportunities”.
Having more than 15 years of AFSL/ACL experience and post-graduate qualifications in business, accounting or finance are key requirements for the Melbourne-based roles.
According to the job posts, the successful candidate for the head of advice role will be responsible for all aspects of delivery for advisers.
This includes overseeing the end-to-end financial advice process, including advice policy and documentation, product research, advice coaching, advice service delivery and practice management.
“The successful candidates will not only have a central role to play in the long-term success of CPA Australia Advice but also in shaping the future of financial advice in Australia,” a spokesperson said.
“With an ethos of integrity and transparency built into its charter, CPA Australia Advice is committed to our clients’ best interest.”
For the head of operations role, the candidate should be able to “research and assess the best operational model to support the new entity and to deliver operational solutions to effectively enable operations of the business”.
CPA Australia has been inundated with expressions of interest since announcing plans to launch the advice arm.
The group’s chief executive, Alex Malley, said that currently 15 per cent of CPA Australia members (who comprise around 150,000 in total) provide financial advice under a number of licensees, but extending the CPA Australia brand would further strengthen their presence.
“Some of those CPAs will be providing advice under other licensees and this is simply an alternative that young people coming into the sector will see as an impressive benchmark and will be given the option of being under the CPA banner,” Mr Malley said at the launch.
Expected to be operational by 1 July 2016, the company plans to provide advice that is free of commissions, offering it on a fee-for-service basis.
“CPA Australia Advice represents a game changer for financial advice in this country,” Mr Malley said.
You obviously don’t know what you are talking about as all Financial Planning Advice has had to be on a Fee for Service basis since 1/7/2013.
The statement by Malley is therefore off the mark when he states that the advice will be provided free of commissions. This is not unique in the FOFA world.
Point of difference for the CPA is that they will be charging fee for service??
Can’t see them recruiting a compliance manager anytime soon though. Who needs compliance when you have ASIC immunity?
Who is paying for all of this? Are CPA membership fees being plundered to finance this so that Alex Malley can build his own little empire.
As a CPA member and a long standing Financial Planner, I take offence to the final statement by Alex Malley above. How conceited can you get.
This whole thing is unprofessional and unacceptable for a professional body to be setting up in opposition to its members.