In a letter from Mr Mardell to authorised representatives – seen by ifa – the dealer group announces that Ms Sheehan has resigned from the post effective 23 April.
“After a long and successful career, Philippa has made the decision to retire and she is proud of her time at MyPlanner,” Mr Mardell wrote.
“The shareholders and board would like to thank Philippa for her contribution to the business and her continued passion for the industry.”
Ms Sheehan joined MyPlanner shortly after its rebrand from SMSF Partners in 2014. Prior to that she was managing director of IOOF-aligned MyAdviser.
She has been a longstanding advocate of “non-aligned financial advice” and of raising the number of women at executive level in the wealth management industry.
ifa understands Ms Sheehan will take a break from the financial services industry to spend time with her young family.
In 2017, she was named Dealer Group Executive of the Year by the judging panel at the ifa Excellence Awards for her role in rebranding MyPlanner and advocating on behalf of her authorised representatives.
ASIC placed licence conditions on MyPlanner in December 2017.
MD of three dealer groups, all of which received ASIC EUs. That pretty much sums up the situation I think…
Settle down children…
A bit of venom in the comments here, which seems unnecessary. Maybe its as simple as the fact that as this person does not have a degree (according to the FAR) they just don’t want to do the further study?
Or maybe she has a degree ……or one more than 10 years ago … or a now useless CFP …. Now what is the FASEA chart for her now and how many Ethical investment units at $5,000 per pop at the local education centre that is and will be swash with monies .
I have known Mrs Sheehan on a professional level for over 8 years and I found her management of both My Adviser and My Planner nothing but professional and ethical, she was a female leader with passion, I believe she was great for the industry and will be missed, I miss her all the best.
I assume anyone commenting here has no real insight into her departure, suggest we leave ‘rumour’ to the bar stool. What we do know is that IFA awarded Philippa ‘Executive of the Year’ then ASIC gave them a EU? Suggest IFA leave Awards to others as ‘egg on face’ to you IFA !
Did she go to Deloittes?
Where is your investigative journalism Aleks? No mention of a second licence or the movement of advisers to My Planner Professional Services? Are they in trouble? Didn’t this licence used to be called SMSF Property? How is their ASIC EU going? Is it true there is a class action over their property development business? Why has the new licence moved from FOS to CIO? How much advertising do MyPlanner place in IFA to avoid your righteous indignation? How do you get ASIC licence conditions and IFA Dealer Group of the Year in the same year?? Maybe I’m wrong and it’s just a Storm in a teacup!!
WTF??
This comment says it all. It is appropriate that she leaves the industry. She was asked to resign her position with IOOF because of her indiscretions
true, yet she was going on and on about what we needed to do, not doing it herself in her business
most planners are doing fine
what needs to change is the industry structure
dealer groups need to be abolished
product makers cannot own or give advice
planners need to have a professional body oversee and manage their compliance obligations not ASIC
these are the foundation stones that must be laid before planning can become a full fledged profession
Post your name and where you work and then let’s talk.
Philippa has been brilliant and I’m sorry to see her go. She’s one of the few in our industry with the guts to tell it how it Is rather than being an anonymous poster. Thanks Philippa!!!
A year too late!
Phillipa, all the best for the future.
She would have been pushed. Unable to successfully run a dealer group in any of her roles.
name one dealer group who successfully runs that business!
Dover
Hahahahaha!! Good joke!!! The list of issues and complaints they have had with FOS go on and on
how come ? every SoA is reviewed by their in-house lawyer before being sent to the client
ha ha made me laugh