FPA announces its new shape – fewer jobs, more advocacy
Financial Planning Association (FPA) chief executive, Dante De Gori has confirmed job losses resulting from the organisation’s pursuit of a new structure.
As revealed by Money Management yesterday, weeks after the departure of the FPA’s chief operating officer, Pene Lovett in February eight people were this week told they were to be made redundant with De Gori this morning issuing a formal statement confirming the job losses and unveiling a “2025 Strategic Roadmap”.
He said the five-year strategic roadmap would start from 1 July and would focus on three core pillars – members, advocacy and consumers
- Members: To lead the profession on the financial planning model of the future
- Advocacy: To be the voice of the profession with a policy vision that ensures a growing and sustainable future for financial planning
- Consumer: To showcase the value of financial advice among all Australians, increasing awareness and use of financial planners
“There are significant opportunities for the FPA to lead on initiatives under each of these three strategic priority areas. Supporting members to grow and thrive, increasing the number of Australians accessing financial advice, and having a leading voice in public policy will be key priorities with significant initiatives to be rolled out over coming weeks and months to support each of these areas,” he said.
Acknowledging that the changes had been driven by the changing face of the industry over recent years and extensive adviser exits, De Gori said the organisation’s members were facing more regulation, higher education standards and increased costs.
“At the same time, there has never been a greater need for Australians to seek financial advice,” he said.
Acknowledging the job losses, De Gori said that it as the five-year strategic plan was finalised it was natural to look at the team structure.
“I am personally grateful for everyone’s contribution to the FPA over the past five years but as our strategy evolves and the environment changes we need to transform to ensure we remain relevant and effective,” he said.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
