The Financial Planning Association (FPA) has committed to “working proactively” with the Government to address the Royal Commission final report’s recommendations and to rebuilding trust in the planning profession.
The Association accepted that the examples of poor advice identified by the Commission were deeply concerning, agreeing with the report’s findings that stronger consumer protections and oversight were needed.
FPA chief executive, Dante De Gori, believed that trust was at the centre of improving outcomes for those who had not received proper advice.
“People want to know who they can trust with their money; they deserve trusted and transparent financial advice that is unequivocally in their best interests as the client,” he said.
“It will take time to review and absorb the full implications of this final report, but in principle, the FPA is committed to working cooperatively with the government and its current and future representative bodies to support the growth of our profession for the benefit of consumers.”
De Gori also backed Hayne’s calls for greater transparency, with the FPA recently having conducted a voluntary internal review of its Conduct Review Commission disciplinary processes. He also pointed out that the creation of Code Monitoring Australia would help improve disciplinary independence.
Comments
Dante must go.
The FPA are an organisation who have lost the faith of its membership. From flogging useless qualifications to siding with the organisations that pay them to do their bidding they have no credibility left and will always side with whatever produces the best results for them financially. Stop wasting your money with the FPA or AFA. They are not working for the best interests of customers or advisers, they are working for those who pay them conflicting remuneration. Join up to the United Financial Advisers association - UFAA. At least they will try to fight with knowledge over profit.
We've already seen the mortgage broker associations coming out swinging this morning in the defense of their members and customers. No word yet from the AFA and Dante saying he's committing to work proactively with government. What an embarrassing joke our associations are.
FPA is a joke. The FPA should be stating they we're ethical, we have continued to do what's right by the consumer, but deep down they supported dodgey professionals who contributed to the need for a RC. Dante must go.
You planners are never happy. Whingeing and complaining constantly. Without the FPA you financial planners are nothing. You all whinge about FPA but you do not dare cancel your membership. You planners know without FPA you are irrelevant. FPA is the closest thing you have to look like a profession. To be frankly honest financial planners look like a dogs breakfast and you know it. That is why despite all your whingeing and complaining you would not dare cancel your FPA membership. The FPA is like a suit you wear to a wedding instead of the rags you wear now. The FPA gives you the illusion of professionalism which financial planners are so far from being. If you have any dignity you would cancel your FPA membership but you are financial planners. You stand for nothing but self interest. I think an apology to FPA is required. I am waiting.........
twat.
Could not agree more about how members should be cancelling and I have. More planners should too. The FPA will survive because remember they are funded by conflicting remuneration from the insto's. Your insinuation that the FPA is somehow professional is the funniest thing I've read all week!
You have some serious issues and should get some help - professional help.
Friends of the FPA, you're a joke. Fortunately my education, skills and expertise are what validate my profession. Being a member of the FPA doesn't count for anything, it's CFP qualification. If the CEO/Dante was an independent representative of the FPA members then, it'd be fine, unfortunately he's a puppet influenced by institutions. I'll continue with my happy clients and growing book knowing I don't need the FPA.
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