FPA chief executive Dante De Gori told ifa the association would launch a new policy platform to its members imminently that dealt with many of the issues being experienced by advisers due to increased regulatory change in the sector.
“Next month we are gearing up to publicly launch our new policy platform which sets out the guiding principles, reforms and changes that we believe must take place over the next five years to ensure that affordable advice is available to Australians who need it, as well as a sustainable model for the profession of financial planning,” Mr De Gori said.
The comments came off the back of the FPA’s recent launch of a free guide to help consumers manage their finances in the aftermath of the COVID-19 crisis, which has seen real unemployment reach almost 10 per cent in Australia.
Mr De Gori said the guide was based on a similar initiative from the UK-based Chartered Institute for Securities and Investment, and had been developed based on feedback from the FPA’s eight member CFP advisory panel.
“We recommend anyone looking for financial advice regarding their personal circumstances to seek out a financial planner, but this may not be an immediate option for everyone so we wanted to share some timely information that people could action themselves right away to regain a sense of control over their financial situation,” he said.
The guide would be backed by a wider consumer ad campaign to promote the value of seeking out a CFP professional.
Mr De Gori said while the crisis had created significant business opportunities for advisers, most had been too busy to proactively take advantage of these opportunities.
“The experience has been varied for our members – some are very busy with their existing clients only, and others have taken on new clients too, although they haven’t generally been out actively pursuing these,” he said.
“There have been a lot of referrals and direct consumer contact.”
I feel after yesterdays big announcement that the Government will doing what the Unions want not what the FPA want.
What is that saying about doing the same thing over and over again and expecting a different result??
I will end my membership this year because of the public disgrace and I firmly believe you can’t be a professional financial adviser and be a member of the FPA. It’s clear that the FPA represents only large institutionally owned licensee’s and their core focus is their own profitability. You can’t be named and shamed at a Royal Commission and be called out as being unable to be a code monitoring body and still have the same board and CEO. The Advisers that join the FPA, are the ones that have their memberships paid for them in bulk by a large institutions. They join not because they want a profession, but it’s a condition of employment, or there licensee has negotiated a discount.
Are you so stupid to keep repeating the same mistakes year after year, whilst your profession drowns in Government intervention. Or will this be the year that you take a stand, and stand up for Professionalism, stand up for all advisers and Australians, and resign from this self centred failure.
Ok “Bob”. Who is paying you to troll..
As I stated being a member of the FPA is no longer being a Professional adviser. If you want continue Government intervention, red tape and more of the same go ahead, keep doing the same old same thing. If you think value is a facebook add aimed at someone who could not even afford to pay for advice, then renew, but never whinge about another piece of legislation again. the choice is yours.
Zero comments here, because everyone knows this is BS. They will do whatever the government tells them, all the while ignoring advisers.
What exactly are the “significant business opportunities for Advisers”? Charging no more than $300 to prepare and deliver advice on early release of super?
You would have to complete 1,673 pieces of covid release advice (at $300) to earn Dantes $502k income…. Reckon he is out of touch much?
Good work FPA/De Gori…your time and money might be better spent focusing on the unworkable FASEA imposts advisers are grappling with rather than producing ”glossy” policy platforms. Whilst you are spending your time on ”feel good” projects, advisers are finding it more difficult than ever to look after their clients compliantly and keep their businesses sustainable. Get back to what you should be doing….supporting advisers and making the Government aware of the regulatory nightmare the industry is going through.