According to a statement, the FPA’s Conduct Review Commission (CRC) suspended Matthew Brown’s membership for two years. Further, he has been removed from the FPA’s ‘Find a Planner’ directory and has been stood down as chapter chair of the Gold Coast FPA Chapter committee.
The FPA said it initiated a complaint and investigation relating to the advice and conduct of Mr Brown in August 2017. In October 2018, the CRC panel determined he breached the FPA Code in seven of the 14 instances of alleged breaches.
In a separate case, the CRC suspended Dianne Bainbridge for six months following a complaint raised by a former client in November 2017. Ms Bainbridge’s details have also been removed from the FPA ‘Find a Planner’ directory.
In November 2018, the CRC panel determined that Ms Bainbridge had breached the FPA Code, with sanctions being handed down in December 2018. The FPA said she would undertake additional training and education in management and risk management.
FPA chief executive Dante De Gori said all members are required to uphold the highest ethical standards within the financial planning profession with no exceptions.
“The FPA is committed to standing with Australians for a better financial future and enforcement of the FPA Code is a critical aspect of that commitment,” Mr De Gori said.
Watch the member numbers decline when you get your TPB through education – and don’t need to belong to a ‘member’ association.
Seriously, FPA just shut up and go away…… oh and give back the members money that you did nothing for, ie FEES FOR NO SERVICE!!!
Useless organisation relying on conflicting remuneration from the Banks and Insurers.
what we need is a revamped CFP (R) program. Deadset.
If this is the way that the FPA treats their long serving members, then we should all leave in droves.
The FPA is apparently not for members – and not for Australians receiving financial advice – I think that the FPA are in their own little bubble and have a focus on themselves and their own perceived self- importance. The reality is that they are becoming increasingly irrelevant. They really do need to reinvent themselves.
No one. The FPA is apparently a member organisation, funded by members with absolutely no member charter.
Ok , if they are to be ejected and crucified , what did they do ? Certainly you have an obligation to other practitioner members to say exactly what they did wrong ??? Otherwise you are open to Scuttelbutt .
Interesting.
Matthew Brown (435019 at MIQ on the FAR) is a CFP legacy – no degree and presumably earned from a 2004 undergraduate qualification. Also his LinkedIn and FAR do not seem to line up. Hope your Adviser Profile is correct mate! Not that friggin hard to get the basic details correct.
The FPA say that the CFP designation represents the same (high) standard for all CFP holders. This is not true. Thus, they are in beach of their own standards. Who police’s the policeman ?
Removed from the “Find a Planner” directory? OH that is so harsh, just savage!!!
Learned anything from the Sam Henderson case have we Dante?????????
Anyone ever had a lead from the FPA?
Dante De Gori said the FPA are committed to selling courses and the most expensive useless courses at the highest profit margin. how about stop selling out and support your members like the mortgage broker bodies did, never seen labor back flip so quick and haven’t seen a new headline since they releases ads. FOFA, LIF and RC….. FPA no where to be seen you guys are a disgrace we will do a submission and see how we go… make it look like we are doing something or our members.
Time you give back the money for selling courses, that provided no benefit to its members and I would like a retro look back to see the education provided with no benefit for its members and I want interest on the money as I could have invested that else where
Too bad the FPA don’t stand up for their members like the MFAA do!