FPA launches confidential reporting facility
The Financial Planning Association (FPA) has officially launched its anonymous reporting facility, FPA Confidential.
The online facility was developed in conjunction with Deloitte Touche Tohmatsu and is open to both the public and association members. The FPA stated the facility would enable it to anonymously obtain critical information relating to misconduct. It is hoped the system will potentially reduce the number of financial planners and licensees doing the wrong thing.
“The FPA is committed to doing more for its members and consumers and felt it was our duty to provide a secure mechanism for members and consumers to make anonymous complaints,” said chief executive Jo-Anne Bloch.
The FPA stated that while not all reports would lead to a formal investigation, the information could be used to assess areas of systemic risk.
The online facility is independently managed by Deloitte’s forensic division to ensure anonymity, but reporting is sent through to the FPA’s professional standards team.
Recommended for you
While returns and fees are the top priority for older Australians when it comes to their superannuation, more than one in 10 are calling for access to tailored financial advice.
Determinations by the FSCP since the start of 2025 are almost double the number in the same period of 2024, with non-concessional contribution cap errors and incorrect advice among the issues.
Whether received via human or digital means, financial advice is reportedly leading to lower stress and more confidence, according to Vanguard.
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
