Speaking exclusively to ifa, the founder and chief executive of Health & Finance Integrated, William Johns, said strong leadership is needed in the FPA as it has a huge role to play in the direction of the profession.
“It is always easy to criticise someone from afar, so I decided to get in there and be the professional advocate the board seems to desperately need,” Mr Johns told ifa.
Throughout his lobbying efforts, Mr Johns noted concerns from many of the advisers he’d been in touch with that the FPA had been too gentle in its advocacy, rather than “taking the gloves off” and fighting for the rights and livelihoods of the FPA members and the industry at-large
“I hope there are not too many advisers feeling disenfranchised, but I can tell you there are many people contacting me saying they are ‘ex-members’ because they felt they are not getting value and/or felt disconnected or their voices not heard,” he said.
“I am a born fighter. I have my principles and my beliefs as someone fighting for people at risk of being marginalised daily, such as people with disabilities, as well as a strong human rights advocate.
“I am going in there to push hard for a better, more human-centred FPA. I want that to be felt within the advisory community and also the Australian community at-large.”
Should he win election to the FPA board, Mr Johns said key items on his agenda would include:
- Working with FASEA and ASIC on the ways vulnerable advisers can meet their accreditation requirements;
- Reaching out to members at risk of losing their jobs, or those experiencing mental anguish and working with them to have better prospects;
- Considering new FPA programs aimed at risk management of things such as technology disruption, complex business practices, government-imposed revenue disruption and other risks such as legal exposure when advising older clients with questionable cognition;
- Holding executives accountable for their performance against set policy advocacy targets and adviser/consumer perceptions;
- Establishing a community outreach program fully funded by the FPA to provide advice to struggling farmers and those in isolated communities to be delivered in collaboration with other professionals such as legal and financial counsellors;
- Keeping the checks and balances by mounting legal challenges as and when required at the request of a predetermined number of members; and
- The establishment of groups similar to XY Adviser for FPA members, and for directors to be involved in the debates transparently and actively listen as elected representatives.
Voting for board directors closes today. The FPA will reveal the election results on 30 October, with the elected directors to be appointed at the annual general meeting on 27 November.
[quote=Captain Obvious ]Why do I lose my CFP designation if I’m not a paid up member of the FPA ? I don’t pay Sydney University a fee and get to retain my B.Ec ? You know it doesn’t make sense. Or is this fee for no service ?[/quote][quote=Captain Obvious ]Why do I lose my CFP designation if I’m not a paid up member of the FPA ? I don’t pay Sydney University a fee and get to retain my B.Ec ? You know it doesn’t make sense. Or is this fee for no service ?[/quote]
CFP accreditation is the professional designation issued by the FPA. This you must be a member to use it just like a CPA must be a member of that professional body to use the designation. Please do not confuse accreditation with degrees.
[quote=Captain Obvious ]Why do I lose my CFP designation if I’m not a paid up member of the FPA ? I don’t pay Sydney University a fee and get to retain my B.Ec ? You know it doesn’t make sense. Or is this fee for no service ?[/quote][quote=Captain Obvious ]Why do I lose my CFP designation if I’m not a paid up member of the FPA ? I don’t pay Sydney University a fee and get to retain my B.Ec ? You know it doesn’t make sense. Or is this fee for no service ?[/quote]
that’s what you are worried about in all this?
Why do I lose my CFP designation if I’m not a paid up member of the FPA ? I don’t pay Sydney University a fee and get to retain my B.Ec ? You know it doesn’t make sense. Or is this fee for no service ?
[quote=Rob Coyte]Why would you want to be the Captain of the Titanic when it is sitting on the bottom of the ocean?[/quote][quote=Rob Coyte]Why would you want to be the Captain of the Titanic when it is sitting on the bottom of the ocean?[/quote]
I love it.
Why would you want to be the Captain of the Titanic when it is sitting on the bottom of the ocean?
Good luck William, you already have my vote.
Fair to say I’m jaded (like many) and looking to throw in the towel.
FPA has been little more than a glorified marketer, and a poor one at that. No spine, easily melts under pressure.
If planners pay the FPA’s wages via member fees, then why would they work for consumers as well? Do they get government funding for that?
Heard it all before….no mention of disconnecting the parasites i.e. FSC, insto’s and product manufacturers from the profession. Until then, same same.
[quote=Concerned]The real issue is that the FPA does not have a member charter. It has no obligations to members whatsoever.
If you really want to explore the culture of the FPA, seek to understand what happened to all the members of the so called professional standards committee[/quote][quote=Concerned]The real issue is that the FPA does not have a member charter. It has no obligations to members whatsoever.
why don’t you enlighten us instead of speaking in code.
[quote=Anonymous]I’ve already cancelled my membership owing to the current CEO who I think has been a disgrace and also due to the completely conflicting funding. I personally think the FPA and AFA don’t have any future.
That said those that are still FPA members might as well vote for this guy. At least he knows the problems and he cannot be any worse than the current CEO[/quote][quote=Anonymous]I’ve already cancelled my membership owing to the current CEO who I think has been a disgrace and also due to the completely conflicting funding. I personally think the FPA and AFA don’t have any future.
That said those that are still FPA members might as well vote for this guy. At least he knows the problems and he cannot be any worse than the current CEO[/quote]
they dont’ have a future at all. i’ve already got a masters in financial planning, and completing the ethics course, i will have no issues passing the ethics exam.
i have sufficient education to register with the tpb directly, so there is no need whatsoever to join the afa or fpa. its’ a total waste of money and i’d rather donate that to charity which will be of much better use.
[quote=Sydneysider]Mr Johns needs to understand that a professional association does not only serve its members it has a key role to play in taking positions that support consumers and the public……FPA is not a trade association. [/quote][quote=Sydneysider]Mr Johns needs to understand that a professional association does not only serve its members it has a key role to play in taking positions that support consumers and the public……FPA is not a trade association. [/quote]
it’s a fine balance. they also have to push back against regulation that is ill thought out, detrimental, impractical, too onerous that no other profession would suffer gladly. if that weren’t the case why are the accountants lobby saying exactly that.
and, you think their position on not recognizing existing advisers with 20 years experience without a formal qualification is in the public interest, when studies after studies (including asics own report 627) show the most desired quality consumers seek in a financial adviser, is experience. btw, i already have a masters in financial planning, but my mentors have all been 20+ year experienced advisers without a formal degree, from whom i have had the privilege of learning.
a degree is not the only way to acquire knowledge.
when we know for a fact that there is a large cohort of Australians who really need advice, but are with modest means , it’s right for an association to take positions to make advice even more expensive and elusive.
[quote=Anonymous][quote=Anon.]Does anyone know how we can vote? [/quote][quote=Anon.]Does anyone know how we can vote? [/quote]
You’ll need to find the email. Most likely it’s in your junk folder, where most FPA communications belong.
Regardless of who wins, we look forward to continue working closely with and paying out large sums of money so that the FPA can fully support our press releases when we say [i]”it’s not us …Senior Management/CEO’s it’s those nasty unethical uneducated, unprofessional financial planners” [/i][i][/i] And you better do exactly what we tell you WJ otherwise we won’t make membership compulsory and pay the membership fees for 90% of your members. Kind Regards CBA Management.
I hope he supports Dante and works well with him.. I hate for us to take a leaf out of Rugby Union and sack the Coach after losing the World Cup. I’ve enjoyed FASEA and my ethics courses.I’m really looking forward to the exam. The Four Corners reports also have helped with my work load as clients are just getting advice elsewhere now and that’s a real time saver. I support Dante’s submission to FASEA that advisers with old Masters in Financial Planning degrees and Commerce qualifications should only be worth 20 points out of 100….as that make sense. And certainly supporting CBA Management during their advice scandal and calling for Degrees for all also was a good call. Watching my business value plummet will also help with my age pension application too. So I say thank you FPA and Dante the biggest worry I’ve had as my time as an adviser was always the ability to witness a Stat Dec and I applaud the Dante for his life’s work.
[quote=Anon.]Does anyone know how we can vote? [/quote][quote=Anon.]Does anyone know how we can vote? [/quote]
The FPA would have emailed your registered email address around 16 Oct with a link to vote – do a search for FPA in your emails and click the link.
I went through their bios and this is how I voted:
• William Johns
• Peter Tribolet
• Geoffrey Pacecca
Seems the best of them to get commercial outcomes hopefully.
FPA and its “leadership” have been nothing but a disgrace and have looks after their own interests and not the advisers they collect membership dollars from
Mr Johns needs to understand that a professional association does not only serve its members it has a key role to play in taking positions that support consumers and the public……FPA is not a trade association.
I like the thrust of the article, I’ve avoided the FPA like the plague as it certainly offered no value to me in my opinion. They have done nothing to promote the value of advice or defend the reputation of good advisers, they have simply rolled over time and again. Way too infiltrated by big licensees and their own agenda, CFP being a great example.
About time – pity all FPA werent like him!!!!
FPA – largest case of fee for no service I have ever seen
I’ve already cancelled my membership owing to the current CEO who I think has been a disgrace and also due to the completely conflicting funding. I personally think the FPA and AFA don’t have any future.
That said those that are still FPA members might as well vote for this guy. At least he knows the problems and he cannot be any worse than the current CEO
The real issue is that the FPA does not have a member charter. It has no obligations to members whatsoever.
If you really want to explore the culture of the FPA, seek to understand what happened to all the members of the so called professional standards committee
With the Government decision to create an independent disciplinary body and FASEA’s recent announcement of updated guidance on its Code of Ethics it is difficult to see where “professional bodies” now fit in the frame. What do they offer industry participants that is a tangible benefit? I’m afraid any aspirations regarding associations driving a new profession have been set back years. Government appears to have stepped in to take their place using mandatory powers instead of voluntary subscription to a set of professional goals.
Bringing the human side to the table is long overdue so you have my full support William. It is ironic that the regulators and advocates of regulations to protect consumers have been so inhumane in failing to adequately understand the collateral damage ( to both advisers and clients ) of their proposals. Their has been so much value provided that has been dismissed as a rip off due to the focus on a small sample of unserviced customers. The cynics need to hear the voice of William and the many advisers that offer such an important service to their community. eg Set up some focus groups of real clients and listen to them.
Voting closes today. I voted for William. He is VERY passionate about advice and probably the future of the Industry. I wish him well. He has very good intentions.
Also, take it easy on the criticism of Dante please. Imagine you had that job for 5 minutes I wonder how you would go?
If William is successful, I think he will add something to the FPA Team
The FPA has NO role to play in the FUTURE direction of our PROFESSION. Financial Planners and Financial Advisers ONLY need an Representative Body and the FPA does not fit the Bill. The FPA membership consists of employees of the FSC Members who have in the past and will continue into the future influence the FPA.
big talk. Lets see him get on the TV and media and defend Advisers…believe it when I see it. Goodluck when the whole media and country are down on the industry.
Seriously, why would you vote this guy in? A divided board achieves nothing.
Disappointing William. What’s needed is real leadership not warm and fuzzy. The FPA is fundamentally broken due to the influence and infiltration of product manufacturers. We’ve already seen the CEO of AMP come out and state ongoing financial advice is not worth it on the grounds of replacing hard working loyal AMP advisers with Robots and call centers.
This association was pretty popular in the 80’s when you got free holidays for selling the most Nil Entry Rollover fund but since then has dwindled rapidly. Most “professional advisers” have moved on. My advice would be join all those voting at the annual general meeting to wind up this CBA puppet show of an association and take the cash reserves.
AFA and FPA need to amalgamate and coordinate rather than protect their agenda from each other
that is true
Agree, the CEO is totally utterly clueless, done not a single solitary thing to help advisors at all.
Good luck William in both the election & your first board meeting – will certainly be some daggers thrown at you after these comments. Can you add to your list a) reduction in membership fees given the big warchest in the Balance Sheet; b) a vote of no confidence in the CEO; and c) an invite to me at the 2020 FPA Congress? Adrian Raftery
Does anyone know how we can vote?