The Financial Advice Association Australia (FAAA) is in the “critical process” of renewing its policy platform through a member survey.
This follows the completed merger of the former Financial Planning Association (FPA) and Association of Financial Advisers (AFA) in April this year.
FAAA is now seeking feedback from its membership to update its policy platform that will underpin its advocacy priorities throughout this decade until 2030.
Open until 19 October, the survey will ask members to share their views on key policy areas. This will include:
- Ease of providing advice.
- Ease of servicing clients.
- Improved technology and data.
- Cost of providing advice.
- Sustainability of financial advice.
- Professional standards and education.
- Licensing and registration, and
- Those who can provide financial advice and to whom.
David Sharpe, FAAA chairman, highlighted the policy platform as a fundamental priority for 2023 since the merger which formed the new association.
He said: “With our merger now complete, we are starting the critical process of renewing the FAAA policy platform.”
“Our members consistently tell us that our efforts in policy and advocacy are their top priority. We have listened to their call and seek their input into this important project,” Sharpe added.
He encouraged members to take the time to provide their views which will ultimately shape the FAAA’s policy and advocacy priorities in the future.
“The member survey marks the start of the process of developing the new policy platform. This process will extend over a number of months and include further consultation activity with both members directly and through FAAA committees.
“The decisions that we make now, will help shape the future of our profession. Having created a unified voice, we add clarity and power to the positions we take.
“I urge all our members to complete the survey and be involved in this important project to ensure that all voices are heard.”
In July 2023, Money Management reported that the industry body had recorded over 8,700 membership renewals at the time, which FAAA chief executive, Sarah Abood, described as a “real vote of confidence”.
A month later, it was revealed that there were 7,851 financial advisers who were FAAA members reflected in the ASIC FAR, comprising 49.9 per cent of the register.
It fell just short of previous estimations of around 8,835 or 56 per cent of the register, according to Wealth Data.
