News

FPA acknowledges findings of ASIC report into how large institutions oversee financial advisers

The Financial Planning Association of Australia (FPA) acknowledges the findings of ASIC’s review into how Australia’s largest financial advice firms have dealt with poor advice and non-compliant financial advisers in the past. ASIC Report 515 ‘Financial advice: Review of how large institutions oversee their advisers’ concludes that while Australia’s big banks have improved their systems and culture, there is further work to be done to improve practices. Commenting on the report, Dante De Gori CFP®, CEO of the FPA, said, “The review indicates a lot of work has been done by the major financial advice institutions to improve their practices –

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FPA Roadshows to guide planners on the path to higher professional standards

The 2017 Financial Planning Association of Australia (FPA) National Roadshow will provide members with the chance to learn more about the FPA Professional Ongoing Fees Code and hear the latest news on legislative developments impacting the profession. Kicking off in Frankston, south-east Melbourne on Wednesday 26 April, the 2017 FPA Roadshow will visit 33 locations nationally from April to June, and is open to FPA members and non-members. The FPA has partnered with Platinum Asset Management for the event. Registration for each location is now open and expected to fill quickly after a record attendance of over 3,000 delegates last

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Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 passes through Parliament

The Financial Planning Association of Australia (FPA) welcomes the clarity provided through the passing of the Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 by Parliament today. Ben Marshan CFP®, Head of Policy and Government Relations, said the passing of the legislation brings an end to the ongoing uncertainty for FPA members and their clients: “Our members have expressed uncertainty when recommending life insurance solutions to their clients, in light of the information vacuum on life insurance since May. The passing of this legislation addresses these concerns and creates certainty for members when discussing and recommending life insurance. “The new

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FPA congratulates Government on passing of Professional Standards and Education legislation

The Financial Planning Association of Australia (FPA) welcomes the clarity provided through the passing of the Corporations Amendment (Professional Standards of Financial Advisers) Bill 2016 by Parliament on Tuesday. Commenting on the passing of the legislation, Dante De Gori CFP®, CEO of the FPA, said the legislation will provide assurance to consumers that their financial planner will be highly trained, experienced and subject to an enforceable code of ethics. “The FPA has not only led the way in raising education standards for members, but also in advocating for raising education standards and ethics for all financial planners. The passing of

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FPA bans member for professional standards breach

The Financial Planning Association of Australia (FPA) has expelled a member for cheating during his final attempt at the CERTIFIED FINANCIAL PLANNER® (CFP®) certification exam. The Conduct Review Commission (CRC) found Shylesh Sriranjan of Melbourne guilty of breaching the FPA’s Code of Ethics and Professional Practice by using information obtained from another exam candidate during a CFP® certification exam, by means of swapping exam papers. The determination was made on 21 December 2016. The CRC, an independent body put in place to ensure members are held accountable for misconduct, has responsibility under the FPA Constitution and the FPA Disciplinary Regulation

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FPA Congress sets financial planners on growth trajectory

The Financial Planning Association of Australia (FPA) attracted over 1,000 delegates from around the country to the 2016 FPA Professionals Congress in Perth from 23-25 November, where the ‘Future Ready’ theme was enthusiastically embraced by the financial planning community. The sold out Future2 Gala Dinner and the record attendance at the Women in Financial Planning breakfast were just two of the highlights of the Congress that featured an impressive line-up of speakers including Andrew Denton, Anna Meares OAM, Tracey Holmes, Ange Postecoglou and Catherine McGregor AM. Commenting on the success of this year’s Congress, Dante De Gori CFP®, CEO of

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TPB recognises CFP® Certification Program as approved course in Australian Tax Law

The Financial Planning Association of Australia (FPA) has secured recognition for the CFP® Certification Program as an approved course in Australian Tax Law by the Tax Practitioners Board (TPB). CFP® professionals who have completed units CFP 1-5 after 1 January 2016, will be deemed to have completed the Australian Tax Law subject, and will only need to complete an additional course in Commercial Law to re-register with TPB. The FPA was recognised as a tax agent association by the TPB in 2012, meaning that FPA members who are tax (financial) advisers with six years in the past eight years of

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Future2 grants over $147,000 for disadvantaged young Australians

Future2, the philanthropic arm of the Financial Planning Association of Australia (FPA), has awarded over $147,000 in grants this year to community not-for-profit organisations with programs for socially and financially disadvantaged young Australians. It represents an almost 30 percent increase on the $115,000 awarded by Future2 last year through its Future2 Make the Difference! annual grants program. This year’s recipients were selected from 91 applications, each endorsed by a local FPA member. Making the announcement at the Future2 Gala Dinner at the FPA Professionals Congress in Perth tonight, Future2 Chair Matthew Rowe CFP® said the increase in grant funds this

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Kathy Havers wins Future2 community service award for second time

The Financial Planning Association of Australia (FPA) has tonight announced Kathy Havers CFP® from Catalyst Financial Group in Melbourne, as the winner of the 2016 Future2 Community Service Award. Ms Havers also won the Award in 2014. FPA CEO Dante De Gori said, “Kathy is a well-deserved winner of this award. Her tireless commitment to community service and philanthropy through her volunteer work with remote indigenous communities, and helping other families living with disabilities, is nothing short of inspirational”. The Future2 Community Service Award recognises FPA members who have made an outstanding contribution to improving the circumstances of the most

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FPA announces impending Money & Life website launch

The Financial Planning Association of Australia (FPA) has announced it will soon launch Money & Life, an online destination designed to help Australians improve their financial wellbeing. The site will offer regular content that empowers and educates Australians with up-to-date information, practical tips and inspiring real life stories to help them manage their finances. Money & Life will also give consumers the opportunity to sign up to receive regular email newsletters, to help readers build their financial literacy, and eventually take the next step and find an FPA member through the FPA’s Find a Planner tool, which already generates over

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