The FPA is well prepared to maintain business-as-usual now and in the event of a worsening COVID-19 situation.
Below is an update on FPA services and events to support members through this challenging time.
Government action to help the community
The Government has announced three economic stimulus packages to assist in supporting individuals and businesses manage the economic effects of the coronavirus (COVID-19) outbreaks. Regulators have also announced changes to their operations due to the current situation. The FPA has put together a summary of the government announcements to assist members in supporting their clients and managing their own businesses.
The FPA encourages members to use FPA Community to keep in touch with the FPA and to provide feedback on how you are and any issues you are facing, particularly from a regulatory perspective that we may be able to help with.
HELPING YOU PREPARE YOUR BUSINESS
COVID-19 and financial planning
Considering the level of human interaction in the financial planning profession, whether that be within a licensee, related business or in a practice dealing directly with its clients, our profession is particularly exposed to the risks of COVID-19 and we encourage you to be on the front foot to address the circumstances.
It is timely now to have ready a business continuity plan, as well as an immediate response plan for your business and staff in the event of escalating circumstances.
Here are some tips for financial planning related businesses to prepare for the business implications of COVID-19:
- Accurate information is paramount. The government has a COVID-19 information resource available, which includes a specific fact sheet for employers.
- Take immediate steps to reduce the risk of you, your staff and your clients being exposed to someone that may be infected, including being ultra-vigilant about personal hygiene and adhering to government health advice on social distancing and isolation as required.
- Assess how your business may be impacted operationally and financially and develop some mitigation strategies – revising budgets, business plans, IT infrastructure and travel plans may be necessary and having a plan in place for employees to work remotely.
- Talk with all of your stakeholders and suppliers who are most likely wanting to collaborate and work together with you to get through this issue.
- Make the most of available government support programs and stimulus packages that will focus on keeping small businesses operating in this difficult time.
- Seek professional help where required, including from the FPA Wellbeing service.
More information is available on the Australian Department of Health website.
SUPPORTING YOUR HEALTH AND WELLBEING
Given the severity of the COVID-19 outbreak, we understand many of you may be experiencing feelings of increased anxiety and distress. While it’s reasonable to be concerned, there are simple and effective steps you can take to help take care of yourself, and the people around you.
Through the FPA Wellbeing program, you can access free, confidential support and resources. We’ve partnered with Benestar to offer FPA members this program. Benestar has also developed resources to help you and your employees during this challenging time. Access the resources below.
- Steps to protect yourself and others from COVID-19
- Understanding health anxiety
- Managing teams working remotely
- Preventing fatigue
- Building resilience
- Keeping fit whilst working from home
- Supporting children during the COVID-19 pandemic
- Supporting customers during the COVID-19 pandemic
For more information
Please access the latest information on COVID-19 from the Australian Government Department of Health.
CFP® CERTIFICATION PROGRAM AND WEBINARS
The CFP® Certification Program and our webinar program will be running as normal.
If you are currently residing in a country severely affected by COVID-19 and have had difficulty accessing any FPA online content, please contact us directly and we will discuss alternatives to enable you to continue with the program or view a webinar at another time.
HELPING YOU MEET YOUR CPD REQUIREMENTS
With the cancellation of many industry continuing professional development (CPD) conferences and other events due to COVID-19, we encourage FPA members to make use of FPA My CPD, your online education platform to plan, access and track your CPD requirements. FPA My CPD aggregates hundreds of hours of CPD from a wide range of partners allowing easy and convenient access to online CPD options including webinars, courses, articles and quizzes.
The health and safety of FPA members and all attendees are our top priority and in light of the evolving situation around COVID-19, we have made changes to our program of face-to-face events. We thank you in advance for your understanding and patience as we make the necessary adjustments.
All FPA Chapter events have been cancelled until Easter (10 April 2020) or postponed to a later date. If you have purchased a ticket, you will receive a full refund within 14 days. We are looking to reschedule events for later in the year.
Careers in Financial Planning event series
The Careers in Financial Planning event series has been postponed. If you have purchased a ticket, you will receive a full refund within 14 days. We will be rescheduling the event series for August / September 2020, so please look out for further information.
2020 FPA National Roadshow
We were all set to announce the dates for the 2020 FPA National Roadshow, while closely monitoring the current COVID-19 situation. Given the escalating circumstances, we are currently evaluating alternative event options, such as webinars, live streaming and/or events with limited attendance. We will update you as soon as we have more information. For now, we encourage FPA members to pencil in your local Roadshow date and we’ll keep you updated as soon as we can.
FPA Professional Practice workshops
The two workshops originally to be held in March in Victoria will be rescheduled as soon as possible.