News

How much does it cost to see a financial planner?

Last weekend, an article titled Financial planners under fire was published in News Limited weekend papers and gave incorrect information about planner fees, following an interview with FPA CEO Dante De Gori. It said, “… advice fees could vary dramatically but $2,000-$5,000 was typical for upfront advice and a maximum of $1,000 a year for ongoing advice.” However the article incorrectly stated that ongoing advice fees should be a ‘maximum’ of $1,000. It is meant to be a ‘minimum’ of $1,000 not ‘maximum’. A request has been made to the journalist to correct this, both online and in print. Here

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Budget 2018: A focus on minor adjustments, rather than sweeping reforms

The Financial Planning Association of Australia (FPA) welcomed measures to simplify income tax and introduce greater flexibility into the superannuation system. FPA CEO Dante De Gori CFP® said: “Offering relief from household budget pressures allows families to imagine a future in which their financial goals are met, and may even open the door to investment.” Introducing a Low and Middle Income Tax Offset ranging from up to $530 for an individual and up to $1,060 per family, offers household budget relief in a lump sum following a tax assessment. Individuals will have the choice of where to direct this windfall,

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FPA confirms majority of its members are degree qualified

With over 3,200 members responding so far, results from the Financial Planning Association of Australia (FPA) member questionnaire on the recent Financial Adviser Standards and Ethics Authority (FASEA) announcements show the high level of financial planner interest in this topic, and indicate the majority of FPA members are degree qualified. The results give an early indication that around 60 per cent of FPA members have a degree, compared to only 35 per cent across the whole industry, as highlighted at the second round of hearings of the Royal Commission.  Commenting on the questionnaire, Dante De Gori CFP®, CEO of the

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Future2 grants $10,000 to Byron Youth Services financial literacy program

Future2, the philanthropic arm of the Financial Planning Association of Australia (FPA), has awarded a $10,000 grant to Byron Youth Services, a community not-for-profit organisation that creates, supports and leads community action for young people. The grant was awarded on Thursday 8 March in Byron Bay by FPA Far North Coast NSW Chapter Chair Shane Hayes CFP®, who presented the cheque to Dale Shaddick, $-Smart Youth Project Coordinator at Byron Youth Services. The $-Smart financial literacy program will be facilitated by Larissa Zimmerman (below right), who is a financial fitness coach and trainer. The program seeks to provide financial literacy

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Sharon Taylor appointed as new Chair of FPEC

The Financial Planning Association of Australia (FPA) has announced the appointment of Sharon Taylor as Chair of the Financial Planning Education Council (FPEC), effective today. Ms Taylor, Associate Professor at Western Sydney University and previously Deputy Chair of FPEC, will replace Dr Mark Brimble, who stepped down from chairing FPEC on 14 February following the Financial Adviser Standards and Ethics Authority’s (FASEA) announcement to adopt FPEC’s framework and course approval list. Commenting on Ms Taylor’s appointment, Neil Kendall CFP®, FPA Chairman, said: “The FPA Board is delighted that Sharon has been appointed as the new Chair of FPEC. Sharon has

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1700 FPA members respond to FASEA questionnaire in 24 hours

The Financial Planning Association of Australia (FPA) member questionnaire on the recent Financial Adviser Standards and Ethics Authority (FASEA) announcements has galvanised members into action with over 1,700 responses in the first 24 hours. The FPA had been concerned that the FASEA proposals were over-engineered and would result in less access to advice for consumers and greater cost. Member feedback has strongly confirmed this, with many calling for a realistic approach to recognition of existing financial planning specific study. Commenting on the concerns, FPA Chair Neil Kendall CFP® said, “the FPA and many others in the financial planning profession have

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FPA gathers member feedback on FASEA’s new guidance on proposed education standards and Code of Ethics

The Financial Adviser Standards and Ethics Authority (FASEA) provided new guidance on its proposed education standard and Code of Ethics for financial planners on Tuesday 20 March. FASEA has now started the consultation period, and the Financial Planning Association of Australia (FPA) today sent its 13,700 members and affiliates an online questionnaire to gather feedback on the potential impact of the proposal. The FPA is simultaneously reviewing the guidance on FASEA’s new position and the implications for the financial planning profession. Commenting on the new education and professional standards guidance, Neil Kendall CFP®, Chair of the FPA, said, “The FPA

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For everyday Australians, financial advice has never looked so good

The Financial Planning Association of Australia (FPA) would like to announce that James Trethewie, ex Bachelorette contestant, is now a Celebrity Guest Contributor to the FPA Money & Life website. Much to the disappointment of viewers, “Tarzan with a calculator”, as dubbed by Bachelorette Sophie Monk, did not make it through to the final three. James is a Financial Planner AFP® member of the FPA and has been practicing as a professional financial planner for many years. He was inspired to join the profession by his dad who is also a financial adviser. Dante De Gori CFP®, FPA CEO, said: “We are

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Education and professional standards in the spotlight at 2018 FPA National Roadshow

The 2018 Financial Planning Association of Australia (FPA) National Roadshow will provide members with the chance to learn more about the facts around the proposed Financial Adviser Standards and Ethics Authority (FASEA) education and professional standards. Kicking off in South East Melbourne, Victoria, on Wednesday 18 April, the 2018 FPA National Roadshow will visit 33 locations nationally from April to June, and is open to FPA members and non-members. The FPA has partnered with Perennial Value Management for the event. Registration for each location is now open and expected to fill quickly. Dante De Gori CFP®, FPA CEO, said: “We

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FPA announces new Board member

The Financial Planning Association of Australia (FPA) today announced Mark Rantall CFP® will finish his term as an FPA Board director, effective 28 February 2018. Mr Rantall, who served as FPA CEO from July 2010 to February 2016, has provided an invaluable advisory role to the FPA as a Board member since then. Newly appointed Board member Jane Bowd, who is a non-elected, independent director will commence on 1 March 2018. She is currently the Group Company Secretary & Corporate Counsel at Coca-Cola Amatil. FPA Chair Neil Kendall CFP® said, “On behalf of the FPA Board and all our members, I sincerely thank

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