FOFA politician joins Map My Plan board

According to a statement, the move comes after Mr Ripoll left Parliament earlier this month. Mr Ripoll is the author of the 2009 Ripoll Report, which led to the FOFA reforms in place today.

"Fintech is clearly having a transformative effect on financial services and the way the industry meets customer needs," Mr Ripoll said.

"Joining Map My Plan gives me the opportunity to help bring great advice to the majority of Australians currently missing out and to do something positive with my years of experience in Parliament and government."

Mr Ripoll said Map My Plan is unique because it provides advice without selling any products.

"It just focuses on advice which will help people make well informed financial decisions throughout their life and improve their financial fitness," he said.

Map My Plan founder Paul Feeney said he is excited to welcome Mr Ripoll, who will come on board on 1 June.

"Bernie's extensive background will be a huge asset for our future," he said.

"He will work with us to achieve our goal of improving the financial fitness of every Australian."