FPA offers olive branch
TheFinancial Planning Association(FPA) board of directors will meet on Monday with four ‘leading’ consumer advocates to aid it in taking account of consumer concerns and issues in its decision making process.
The FPA will meet with the Australian Consumer’s Association, the Consumer Law Society of Victoria, the Financial Services Consumer Policy Centre and consumer consultant Dennis Nelthorpe.
According to the FPA, the meeting will allow the board and consumer advocates to discuss initiatives and help rebuild the bridges that were burnt between itself and the consumer movement following theAustralian Securities and Investments Commission(ASIC)/Australian Consumers’ Association(ACA) report into the quality of advice earlier this year.
The FPA hopes to promote closer relations with consumer groups going forward, with chief executive Ken Breakspear hoping the meeting will result in increased consumer participation in the decision making processes of the FPA.
Breakspear will like to see this meeting as the commencement of an ongoing “consumer consultative” relationship.
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