Dale Boucher is now the chair of the Conduct Review Commission (CRC), while outgoing chair Graham McDonald will remain a CRC member in the role of deputy chair, the FPA said in a statement.
Mr Boucher was previously CRC deputy chair, and commenced as chair on 1 April. His appointment includes the role of Independent Code Administrator (ICA) for the FPA Professional Ongoing Fees Code.
Before his time at the CRC, Mr Boucher spent time as the Australian Government Solicitor, a partner with MinterEllison in Canberra, chairman of the Tax Practitioners Board, a chair of the Mortgage and Finance Association of Australia Tribunal and, most recently, the commissioner for Uniform Legal Services Regulation and the chief executive of the Legal Services Council.
“Both Dale and Graham remain committed to the CRC and upholding the high standing of members, and we’re delighted to welcome Dale as new chair,” said FPA chair Marisa Broome.
“The FPA’s Code of Professional Conduct continues to play an important part in holding members accountable for misconduct, and provides significant benefits for consumer protection.
“We would like to thank Graham for his important contribution as chair of the CRC, and we’re very happy that he’s able to continue on in his new role as deputy chair.”
Alex M. At least CPA Australia does not get payments from Xero, Reckon, or Quickbooks. An example of the benefits of this conflict free voice is when CPA Australia wrote to FASEA and 3 days later FASEA legislation suddenly reflects those with Accounting & Commerce degrees. You see they feel certain payments are a conflict. How about the Australian Medical Association (AMA). They don’t get payments from Tobacco companies or Drug firms. When the AMA goes before legislators they state they represent Doctors, the GP the Doctor at Mater Hospital and most importantly Australians. They don’t go to legislators and say we represent Doctors, ……Philip Morris the Cigarette Company…. and by the way we got a nice little payment from a Drug Company of $60,000 this year do they?
At the moment, in the eyes of ASIC and the public we’re trying to be like Doctors who have made a conscience decision to join an industry body that is getting payments from Asbestos companies. In the words of the FPA…”If you don’t like these relationships than leave”
Nominating CPA Australia as your model of conflict-free governance is telling.
The FPA isn’t perfect, but if you’re a member you can have your say by voting for directors, and contributing to their member consultations.
Where are you joining that’s better?
[quote=Joe Blow]Bearstow, you assume these comments are from advisers losing grandfathered commissions. You’re wrong. It’s nothing to do with Commissions. It’s about being Professionals. As mentioned “professional” advisers are leaving the FPA in droves. We’re sick of over regulation, red tape and Government intervention damaging our reputations and livelihoods. One thing we can all do as Professional Advisers to reduce red tape and intern lift access to all Australians to advice is to ensure that any association that claims to represent advisers and all Australians is to ensure they actually do represent Australians and Advisers and not the gang of Royal Commission beauty parade the FPA is representing. This relationship has resulted in advisers being easy targets. It a simple step to move to a model like the Australian Medical Association or CPA Australia in order to have a conflict free voice. At the moment the FPA should just merge with the FSC.
What can we do as professionals to lift professional advice standards here in Australia? Leave the FPA.[/quote][quote=Joe Blow]Bearstow, you assume these comments are from advisers losing grandfathered commissions. You’re wrong. It’s nothing to do with Commissions. It’s about being Professionals. As mentioned “professional” advisers are leaving the FPA in droves. We’re sick of over regulation, red tape and Government intervention damaging our reputations and livelihoods. One thing we can all do as Professional Advisers to reduce red tape and intern lift access to all Australians to advice is to ensure that any association that claims to represent advisers and all Australians is to ensure they actually do represent Australians and Advisers and not the gang of Royal Commission beauty parade the FPA is representing. This relationship has resulted in advisers being easy targets. It a simple step to move to a model like the Australian Medical Association or CPA Australia in order to have a conflict free voice. At the moment the FPA should just merge with the FSC.
What can we do as professionals to lift professional advice standards here in Australia? Leave the FPA.[/quote]
Bearstow, you assume these comments are from advisers losing grandfathered commissions. You’re wrong. It’s nothing to do with Commissions. It’s about being Professionals. As mentioned “professional” advisers are leaving the FPA in droves. We’re sick of over regulation, red tape and Government intervention damaging our reputations and livelihoods. One thing we can all do as Professional Advisers to reduce red tape and intern lift access to all Australians to advice is to ensure that any association that claims to represent advisers and all Australians is to ensure they actually do represent Australians and Advisers and not the gang of Royal Commission beauty parade the FPA is representing. This relationship has resulted in advisers being easy targets. It a simple step to move to a model like the Australian Medical Association or CPA Australia in order to have a conflict free voice. At the moment the FPA should just merge with the FSC.
What can we do as professionals to lift professional advice standards here in Australia? Leave the FPA.
It does not matter who they appoint the whole thing is a joke. I had a vexatious complaint lodged direct with AFCA and the FPA in November. AFCA investigated and dismissed it in early January. I am still chasing the FPA for an outcome. Last advice was they were trying to contact the complainant – its is now April. If my conduct was that bad they have let me run rampant and unchecked for nearly 6 months now. I know my FPA wont be being renewed this year!!!!
the level of resentment against the FPA is palpable in the comments here. I haven’t had much experience with them as an adviser, but as a contributor to various working groups for submissions to changes in law they have been very good and hardworking. The FP industry doesnt have a powerful lobbying group but I dont think FPA ever saw themselves as that. Are people so upset because the FPA didn’t fly the flag for them enough, however in the same breath they are upset they didnt bring down CBA & AMP.
The AFA CEO comes out and says the removal of grandfathered commissions is a travesty and will ruin small business. This guy must lie to his grandmother with a straight face. Sure, anyone losing the all mighty $ will be upset, but if you are still relying on grandfathered comms after all these years, and don’t appreciate its lasted much longer than it should have, then you are neither a smart business operator, nor should a person rely your financial advice.
the FPA is a farce, everyone knows it. it’s just hard for them to accept it.
“The FPA’s Code of Professional Conduct continues to play an important part in holding members accountable for misconduct, and provides significant benefits for consumer protection.””
Hang on, AMP, CBA are all members of the FPA. Their membership fees are clearly reported as member fees. Just what are the significant protection measures in place, given the issues reported at the Royal Commission? Seem like they’ve got very different standards.
you people have it all wrong. I confer on Danfe, CEO for Life.
long live Danfe, Long life Danfe may the corruption to the core continue unabated at the FPA
While we are bashing the FPA ,why do they insist they get a report from each FPA CBUS accredited adviser each month to see what other platforms advisers write other than CBUS ? Because if they don’t , they will not remain a CBUS accredited adviser or on the panel go figure … no conflict here !!! Ie CBUS uses the independence of the FPA to give their members advice ,but they do not want advisers to write products other than CBUS ….
i think the FPSB in the USA would like to know how badly their CFP(r) brand is being tarnished in australia. if you have an issue with this please email them. they are only a google search away
the FPA through their various dealings have totally tarnished the CFP which is now totally rubbished here in australia. in the USA however it is held in high regard
Researcher, nice. save yourself the $200, add $1,800 and buy a nice pair of John Lobb. At least, you will pay for something you will admire and give you joy for many years to come.
The FPA is all but gone, and have been irrelevant in the eyes of advisers for many years. I just got an email from them begging to join, offering $200 off the membership and a free gift! Maybe if they actually stood up for their members they wouldn’t have to bribe people to join.
Just why did the FPA remain silent during the CBA financial planning scandal. Is it because CBA implemented mandatory membership requirements and called for FASEA? The CBA FP is a fee paying member of the FPA. How can you have this disciplinary body and remain silent on the CBA issue?
i note the comments below and agree wholeheartedly. i just don’t understand why an adviser who works in a privately owned business would want to be a member of either the FPA or AFA (i understand those who are employed have to be a member). i was a member of both but resigned in disgust. they asked me why? i said, it would be a good idea to for them to merge with the FSC.
they are totally against the adviser. why the hell do people want to pay to be a member of an industry body that is against them is beyond me, and beyond belief.
why is Danfe still the CEO, what does it take for this person to resign? more humiliation perhaps?
How is it that the FPA can establish a separate entity called FPEC (under the nose of FPA members) and make money from Universities being vetted to meet FPEC standards, then turn around and say that the meaning of a degree for FASEA standards should be a Bachelor of “Financial Planning” as per FPEC.
What deals are the FPA negotiating behind members backs for lump sums of $60,000 plus from product providers? Just who are they representing, CBA. Bridges or advisers or Australians? This is a called a conflict of interest. Perceived or Actual it’s a conflict of interest. Just why did the FPA take a stance on the use of the term “independent” to benefit larger product manufacturers.
Why is it that the FPA can ignore Whistler blowers concerns about fee for no service (before the Royal Commission) by individual AMP advisers because it’s a concern about a Licensee, is it because they’re getting payments from AMP? Why do they bundle up payments from these firms and call them member fees and yet hold them to very different standards.
How do I make a complaint against CBA Financial Planning for charging dead people fees or against AMP to avoid FDS requirements ? You can’t because they pay the FPA $60,0000 plus.
Who holds the FPA accountable? When the bulk of their members pay fees via their employer they are untouchable. Others due to PI cover, TPB standards many are forced to join an association. They should be held to higher standards under these conditions. Why is it that Dante De Gori can delay an investigation of a complaint by the public in return for not upsetting a media personality. The FPA has been found guilty.
According to the Chief Justice Haynes the FPA is also not capable of being a Code Monitoring body and now we”ll report directly to a Government enterprise called FASEA. More Government intervention to come. Yet the CEO is still there.