In a statement on the FASEA website, chair Catherine Walter has announced that Dr Sanders will be preparing to exit the role and “continue his long-standing career in professional standards”.
Griffith University professor Mark Brimble has been named interim managing director, commencing in the role on 23 April.
Mr Brimble stood down from his previous role as chair of the FPA’s Financial Planning Education Council (FPEC) in February.
The government has engaged executive search firm Egon Zehnder to help find a replacement CEO.
A university professor now in the role who’s organisation will financially benefit from implementing useless additional qualifications. More corrupt than the FSC!
In the words of Monty Python…..Run away , run away……..:D
Dr Sanders lack of consultation led to his own demise. Egon Zehnder will need to find a consultative stakeholder enabled replacement to put FASEA back on a stable footing.
Yes Deb Kent
I am gobsmacked Sanders would leave at such an early stage, and right in the middle of the consultation period! At the very least, he owes it to the financial planning profession to come clean and tell us what went wrong. If the current board is unworkable we need to know. The upcoming changes have the potential to destroy careers and businesses, and harm consumers by denying them affordably access to financial advice. We need answers.
Not a great start to FASEA. I wonder if we will get Deen Sanders’ side of the story? Was he pushing his own agenda & pushed? Had the board lost confidence in his ability to perform the role?
I hope FASEA don’t lose sight of the fact that all advisers impacted by FASEA have clients who depend on them.
FPA lobbying the Minister recently has paid off (getting rid of Deen). Mr Sanders forgot he was accountable. The first 6 months of FASEA will be a case study in how not to launch a commonwealth company.
How do you know this?
If this is true then congratulations FPA! You have finally learned that meek acquiescence to a biased bureaucracy’s “consultation process” is a sure fire way to be shafted. The only way to get better results for members is to go straight to the politicians and media and lobby hard.
Credit should be given to the CPA Australia and CAANZ. Come one, what can they achieve with small numbers of FPA membership.
You mean it’s the hundreds of letters that advisers wrote to the Minister and their local MP that caused a FASEA backflip. Ordinary advisers like me who marched in the local MP office. More to the point it was CPA Australia that came out condemning FASEA and got broad finance related degrees recognised. The FPA is in the pockets of the large banks who are currently undergoing a Royal Commission. Given they the banks called for degrees for all planners (FPA +CFP = FASEA) the FPA has had to remained silent.
What would you know about launching any company?…last time I looked you were still working for your Dad!
Good luck to Mr Brimble in his new role. Unfortunately Mr Sanders lost the confidence of the Minister and Board (confirmed) and was tapped on the shoulder to go. While he got a lot wrong in his short time at FASEA, I still wish him all the best for the future. It’s hard losing a job, especially a plum government appointment.
Not as plum a role as working for your Dad eh Tim!
Good bye Deen
Sorry to see you go
At least we had some hope this may work out
Now with me Brimble or some other person running matters I see no hope or prospect of any resolution
Another case in the short term of jobs for the boys
Another big mess in the making and we all stand to lose out and have our lives ruined
Did someone find out that Deen Doctorate is over 10 year old and out of date………….
The 10 year old rule was a myth that’s been dispelled. Do you read?
To anonymous have you not heard of sarcasm………
Sarcasm…the lowest form of wit.
I know its great, just like hiding behind Anonymous or is that your real name…..
Mark Brimble interim Managing Director… shameful. I guess I should just enroll in a Griffith Uni Financial Planning course now and buy his text book and get it over and done with? oh but he’s a nice guy…shame on Griffith Uni for allowing this blatant conflict of interest to continue. He should be replaced with another Academic representing the Uni sector without such a direct and very specific conflict. It’s a huge change for the industry and we need planners to be 100% on board with this change and not saying they’ve been ripped/ cheated by the Uni sector. I will be boycotting Griffith Uni for sure.
FASEA is just a mess. How could they have been so stupid to adopt the FPA’s FPEC list for new entrants. Is it because Griffith Uni is front and Centre? Not a single Uni from WA is listed on this list.
This will probably be good for the FPA. You’d assume Brimble could find a way to consider the grandfathered CFP a real qualification and bail out the fossils that are the problem one more time.
There is no reason whatsoever to assume Brimble would favour recognition of grandfathered CFPs. The FPA itself is not advocating for this.
However one hopes he will consider the CFP Course a real qualification, and give it due credit under FASEA. Something Sanders seemed opposed to.
Are you 25 with a degree and believe you’re ready to take over the business – perhaps? Yes there are problems with some adviser standards and yes some of these are grandfathered in. However, just because an Adviser doesn’t hold a current degree, or a degree in a related field does not preclude them from being a very good professional adviser. I have spent 14 years at Uni, I have a Masters degree and other post grad study, I am a CFP (having done the full course), I am a specialist with SMSF Association and for the last 20 years I have kept up all CPD requirements. But apparently that is not educated enough to be considered professional and now I have to go back to Uni to do study that some board that doesn’t know my business decides is relevant to me.
And there are plenty of advisers like me. Some however are closer to retirement and may choose to leave the industry and that would be a great shame. Education does not mean ethical behaviour, nor does it make professionals. It can be a start, but ultimately what makes an ethical profession is a collective culture that holds people to account.
Hey – some of us 25 year olds are very capable of running a successful business thank you 🙂
It is just farcical. Spend another gazillion $$ to find some more incompetent people to sit on the board and dictate on our lively hood. Perhaps take on an adviser (heavens forbid) and actually get a true depiction of what goes on at the coal face.
There is an adviser that sits on the FASEA board. I’m not sure I would like the job.
Real question – is there any actual client facing advisers on the FASEA board??? If not, why not???
A pleasing development. A chance for a two way dialogue with the new CEO.
Another case of Nepotism at its finest, bravo Mr Bumble.
I wonder what went wrong? Deen Sanders appeared to be a decent man, perfect for the job.
Why don’t they both just go back to running Accounting 101 tutorials and leave the real work to people who have actual “skin in the game”?
Getting a bit too hot in the FASEA kitchen hey Deen ?
What an absolute farce FASEA is proving to be, conflicted resignations everywhere.