FPA establishes new taskforce to tackle reform issues
The Financial Planning Association (FPA) has established a taskforce to respond to the FPA’s consultation program with Federal Treasury.
The new taskforce, which will be known as Future of Financial Advice (FoFA) Taskforce, will be building positions on each of the reform proposals that affect planners, carrying members’ views and concerns through to the Government.
FPA acting chief, Deen Sanders, said the newly established team would be working on the same consultation streams that Treasury nominate.
“The streams will allow us to target some specific areas of concern as part of the consultation process. Some of these areas will be the host of issues surrounding the annual ‘opt-in’ renewal process, the definition of fiduciary duty, the establishment of the Expert Advisory Panel, intra-fund and the removal of barriers to efficient and effective advice,” said Sanders.
Louise Biti, former FPA board member and current chair of the Strategic Policy Committee, will chair the taskforce. The taskforce will also include Board Professionalism Committee members, Strategic Policy Committee members and a number of other participants.
The official consultation program with Treasury will start in the next few weeks with a number of public information sessions to be held in Sydney, Melbourne, Brisbane, Adelaide and Perth.
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.
