Two financial planning member organisations to merge
Members of the Authorised Representatives Association (ARA), which represents around 90 Charter Financial Planning advice businesses and approximately 250 advisers, have voted to close the 40-year-old association and join The Advisers Association (TAA).
The merger, which will be effective from 1 July 2022, was decided following a vote from ARA members to close the association in April.
TAA chief executive, Neil Macdonald, said: “We are very much looking forward to representing ARA members and supporting them as they help clients achieve better financial outcomes.
“Our two associations have a long history of working closely together via numerous consultation groups and this merger will give us an even stronger voice in what continue to be challenging times for advisers.”
Macdonald said the merger would also allow for greater collaboration.
“As we have consistently said, in order to move forward, the financial advice community needs to genuinely collaborate,” he said.
“The merger will enable us to deliver a more united message in our ongoing communications not only within our own community, but also with the media and with the government.”
AUTHOR
Liam Cormican
Recommended for you
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam.
ASIC has sent warning notices to social media finfluencers who it suspects are providing unlicensed financial advice to Australians as part of a global crackdown by international regulators.
