FPA affirms commitment to delivering workable outcomes in support of professional financial planning during 2014

The FPA has vowed to continue it’s efforts on behalf of professional financial planners in pursuit of workable regulatory reform, slashing red tape and enhancing practical support offered to all FPA members.

“We are pleased to get a difficult 2013 behind us. But our efforts in 2014 won’t be dulled. High on the list is fixing FoFA to make it more workable through cutting unnecessary red tape,” said FPA CEO Mark Rantall.

“In this area, we seek to reduce costs for advisers, making advice more affordable for more Australian consumers,” he said.

Mr Rantall also said a glaring inconsistency within the Tax Agent Services Act (TASA) needs robust attention and fixing. “We will also fight to make TASA more workable for advisers to ensure unnecessary compliance and additional, irrelevant education is minimised.”

Mr Rantall said practical efforts to eliminate red tape, reduce the irrelevant education burden and promote access to quality financial planning were anticipated key aspects of the coming year.

“Eliminating or minimising such imposts will in turn free up valuable time to empower  professional financial planners and deliver an enduring impact on all Australians.”
“The FPA has been in lockstep with members throughout the many changes imposed on financial planning throughout 2013. We look forward to a new year and are confident that many similar structural challenges will present themselves. We expect each challenge will provide new opportunity to position our case on behalf of members and the entire profession,” Mr Rantall said.