The Financial Planning Association of Australia The Financial Planning Association of Australia

Planners continue to seek guidance in preparation for FoFA


“Bulletproof Financial Planning” campaign sees strong response from FPA members.

Feedback from the latest stage of the Financial Planning Association’s (FPA) ‘Bulletproof Financial Planning’ campaign, the FPA webinar series, indicates that FoFA compliance and understanding of implementation continue to be main concerns for financial planners.

The FPA member-only webinar series, which concluded last month, aimed to help individual practitioners and professional practices prepare for the impending FoFA regulations. The webinars featured a cross section of industry experts each presenting insights and advice to equip FPA members to continue to provide best practice advice throughout the FoFA implementation process.

The webinars received a great response from FPA members with over 3,200 planners attending and an average satisfaction rate of 90 per cent. They provided an easily accessible platform from which members were able to ask the burning questions covering FoFA implementation and what it will mean for their businesses.

“The response to the ‘Bulletproof Financial Planning’ campaign so far has been overwhelming,” said Mark Rantall, CEO of the FPA. “Feedback from members who participated in the webinar series has confirmed that financial planners are eager to prepare themselves and their businesses ahead of the implementation of the FoFA reforms. We believe that tools such as the webinars are meeting these needs.”

The FPA will now launch national roadshows for members as part of the next stage of the ‘Bulletproof Financial Planning’ campaign. The roadshows will see the FPA’s Executive team speaking to members about how they can prepare for the FoFA regulations. The roadshows commence this month in Perth and continue across Australia into early June.

“The FPA originally launched the ‘Bulletproof Financial Planning’ campaign in response to research showing that over half of financial planners cite FoFA compliance as a main challenge*. The feedback we have received from members reconfirms this and we aim to empower our members enabling them to provide best practice advice under the new FoFA regulations.

“We encourage all planners to make the most of these tools now instead of waiting until July 2013 and finding yourself under more pressure,” Rantall said.

The ‘Bulletproof’ campaign will build off the success of the webinars with the launch of an online FAQ Forum for FPA members about FoFA regulations. Members who were not able to participate in the webinar series will be able to benefit from the frequently asked questions that arose out of the series, or attend a roadshow in their area. The online FPA Bulletproof Financial Planning Toolkit is available to members via the FPA website.

*Investment Trends Professional Dividend Report September 2012