Redundancies at FPA



The Financial Planning Association (FPA) is understood to have made up to eight people redundant ahead of announcing a restructure.
Money Management has been told that the eight staff members were informed of their status this week.
The changes come at the same time as the planning organisation seeks to deal with a large number of exits from the financial planning industry which are expected to impact its overall member numbers.
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.