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
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
