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A new grouping has emerged in the financial planning industry — the Accountant Financial Advisers Coalition (AFAC).
At the same time as debate continues about the role of the Financial Planning Association (FPA), the new group has been formed to represent the interests of accountants who provide financial advice.
Importantly, the group includes representatives from Count Financial, Professional Investment Services, WHK, Securitor and Lonsdale.
The expressed intention of the group is “to ensure alignment of any proposed professional standards with the emerging regulatory framework determined by Government, especially the Future of Financial Advice changes and any regulatory changes arising from the Cooper Review”.
The announcement of the formation of the group was made by Count Financial chief executive Andrew Gale, who will chair the group.
Gale said the intention of the AFAC was to ensure the requirements of its respective members were being taken into account regarding any proposed changes.
