Two licensee heads appointed to FSC board
The Financial Services Council (FSC) has added new financial advice businesses to its membership to “deepen its engagement with the sector”.
Advice licensees joining the FSC under this initiative include Count, Fortnum Private Wealth, Infocus, Otivo, Rhombus Advisory, and WT Financial Group.
Keith Cullen, managing director of WT Financial Group, and Neil Younger, managing director and group CEO of Fortnum Financial Group, will make up two of the new director spots on the FSC board.
“The financial services industry is at its strongest when it speaks with a unified voice on regulatory and policy issues that impact the sector and its consumers,” said FSC chief executive Blake Briggs.
“The FSC has a leading role unifying the industry on reform initiatives, and I am pleased to have this opportunity to appoint directors from the financial advice sector to deepen our engagement and strengthen our advocacy on advice issues.”
Commenting on his appointment, WT Financial Group’s Cullen said: “Delivering more affordable and accessible financial advice for Australian consumers is a priority for the FSC and the advice profession, and I look forward to contributing to a strong, unified industry voice that ensures reform remains a priority for the government.”
Younger added that it is a “pivotal time” for the financial advice profession.
“I look forward to contributing the experience and insights of financial advisers and licensees to the FSC’s policy development, to help deliver a more efficient regulatory framework for financial advisers and their clients,” he said.
Esther Kerr, CEO for wealth and capital markets at Australian Unity, and Andrew Creber, CEO for Australia and New Zealand at J.P. Morgan Asset Management, were also added to the board to represent the fund management space.
“The FSC is the leading voice in the superannuation, financial advice, investment platforms and funds management sectors,” said FSC chairman, David Bryant.
“The appointment of four senior industry leaders to the FSC board brings new depth of expertise to the FSC board and will further strengthen our representation of the industry.”
AUTHOR
Keith Ford
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
Might be a bit different to i the past where at most there was one man from the industry on the loaded enquiry boards as they existed .one board was chaired by the man who lost the national bank millions, good recommendation to let the people who know what they need to have a proper go JG