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

Stephan Strategic achieves FPA Professional Practice status

The Financial Planning Association (FPA) is Australia’s peak professional body for financial planners. Its Professional Practice accreditation recognises practices of the highest calibre in their local community.

The business was started by Magdy Maurice Stephan, a pioneer in the provision of financial planning education in Victoria and was involved in the preparation of the FPA’s original Diploma of Financial Planning in the early 90s.

Magdy’s sons, Joe and James Stephan, now run and manage Stephan Strategic which operates on the fundamental principles of honesty, education, communication and integrity. Joe and James, both Certified Financial Planners® (CFPs®), are joint Directors and Senior Financial Planners for the business.

As an FPA Professional Practice, Stephan Strategic can use the exclusive FPA Professional Practice brand in their offices, website and business collateral to clearly identify itself as a high quality, professional business.

Financial planning businesses are invited to apply for FPA Professional Practice status, and to qualify, they need to undergo a rigorous screening process and meet the following requirements:

  • Over 75 per cent of practitioners must be FPA practitioner members;
  • Over 50 per cent of practitioners are already CFP® professionals or will be within three years.

Businesses accredited as FPA Professional Practices then must agree to a 3-year review of their business to maintain their status.

Joe Stephan of Stephan Strategic said:
“As an FPA Professional Practice, we are delighted to be able to show both existing and potential clients that they are dealing with a financial planning business of the highest professional standing. This accreditation further demonstrates our higher standards and the fundamental principles that remain the bedrock on which the business operates.”

“Our family and business has strong foundations in financial planning education in Victoria, and we continue this tradition with both James and I involved in teaching financial planning in La Trobe University and RMIT University in Melbourne, as well as universities in Singapore and Hong Kong. The FPA Professional Practice accreditation allows us to further stand out as an employer of choice for financial planners.”

FPA CEO Mark Rantall said:
“The Professional Practice designation recognises quality financial planning practices that are providing the highest quality financial advice in their community.”

“With only two in five Australians seeking financial advice, we are working hard to address this gap in by increasing consumer trust in financial planning. Consumers don’t know where to turn for advice they can rely on. If they look for an FPA Professional Practice, this is a perfect place to start.”

“Currently there are around 30 FPA Professional Practices in Australia, and we expect this number to grow over the next 12 months. We believe that there are over 1000 businesses that would qualify for this designation, however our approach with this initiative is definitely about quality, not quantity.”

In addition, the FPA has launched a national TV, print and online advertising campaign to further promote the FPA brand as a mark of trust to all consumers. The campaign will run through September and October in TV, print and online media.