AMPFP’s Helmich steps aside as FPA committee chair
AMP Financial Planning’s director of advice-based distribution Steve Helmich has stepped aside as chairman of the FPA’s professional standards and ethics committee while the association investigates an enforceable undertaking (EU) made by the group to ASIC last week.
FPA chief executive Jo-Anne Bloch said Helmich had “undertaken to step aside” while a “detailed examination” of the AMPFP’s enforceable undertaking to ASIC in relation to super switching advice is underway.
In a letter distributed to members this week Bloch said the FPA will also be writing to AMP Financial Planning seeking further information with respect to FPA’s professional standards.
She said the FPA investigation would be “looking particularly at the need for further guidance to FPA members on any issues raised in the EU.
“AMPFP is an FPA principal member and, moreover, the issues raised have broad relevance to all licensees and their representatives,” Bloch said.
“I encourage all members to examine the enforceable undertaking, a public document, which can be downloaded from the ASIC website, www.asic.gov.au.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
