September 22, 2023

The Monetary Planning Affiliation of Australia (FPA) and the Affiliation of Monetary Advisers (AFA) have entered the second spherical of session with members on the proposed merger of the 2 associations.

The FPA and the AFA agreed in precept in September 2022 to discover a merger between the 2 associations, with a objective of making a united voice for the monetary recommendation career.

Not too long ago, members have been invited to finish a survey to assist information the event of a brand new identify for the proposed merged affiliation.  And this week, members have additionally acquired a merger abstract doc and a draft structure for the proposed merged affiliation, and are inspired to offer their suggestions.

Sam Perera, Nationwide President of the AFA, stated the boards of every organisation are gathering helpful insights from members via the session course of.

“We’ve got had the chance to fulfill and seek the advice of with many members across the nation, over the previous few months, and the message we have now heard is that members see the advantages of a merged affiliation offering a united voice for monetary planners and advisers.

“All members have now acquired private emails surveying their views on a brand new identify for the proposed merged affiliation and we have now appointed a branding company to evaluate responses and develop a proposal for a brand new identify and model.

“It is vital that the identify of the proposed merged affiliation displays member views.

“Members now have the chance to evaluate a abstract of the merger proposal, and the draft structure, and supply suggestions on these paperwork over the course of the subsequent couple of weeks.”

David Sharpe, chair of the FPA, stated this is a crucial step within the member session course of.

“The second section of session permits members to evaluate extra element on how a merged affiliation would function, and what it means for them as members of the FPA and AFA.  Their suggestions is essential to us and can assist information the subsequent stage of the method.

“In my discussions with members over the previous few months, it’s clear that efficient advocacy is the primary precedence for them.

“We imagine a merged affiliation will lead to more practical advocacy and can create a unified voice which might converse for all members, in addition to the broader career.

“A merged affiliation will even enable extra and higher resourcing for members, together with occasions, group {and professional} requirements.

“The boards of each associations strongly imagine {that a} merger is in the very best pursuits of all members, and the monetary planning career, and it will likely be the FPA and AFA members themselves who make the ultimate determination on whether or not to merge.”

The following step will likely be separate AFA and FPA consultative member webinars, which will likely be held in late January, the place members can present any remaining suggestions earlier than voting will formally open in early February 2023. Voting will shut on the FPA and AFA EGMs on 28th February, and the outcomes will likely be introduced shortly thereafter.

For the proposal to succeed, 75 per cent of members of each associations who vote might want to vote in favour.




Concerning the AFA
The Association of Financial Advisers Limited (AFA) has been the genuine voice on the worth of economic recommendation for over 75 years. In the present day, the AFA is a vibrant, modern affiliation, the place the underlying driver of coverage is the assumption that nice recommendation transforms lives. To this finish the AFA is striving to attain the imaginative and prescient of Nice Recommendation for Extra Australians. The AFA’s ongoing relevance as an expert affiliation is derived from its success in partaking with the main stakeholders in monetary recommendation together with advisers, shoppers, licensees, product and repair suppliers, and the regulator and authorities. Culturally the AFA believes within the worth of collaboration to create highly effective outcomes and this drives how we obtain affect and work in direction of our imaginative and prescient.


Concerning the FPA

As Australia’s main skilled affiliation for the monetary planning career, the Monetary Planning Affiliation of Australia (FPA) represents the pursuits of the general public and virtually 11,000 members. The FPA is residence to Australia’s 4,900 CFP® professionals and is the one certification physique in Australia for the worldwide CFP® designation. Our proactive efforts in coverage, advocacy and authorities relations help our objective to create a thriving monetary planning career and allow larger entry to monetary recommendation for all Australians. For extra info, go to:


CFP®, CERTIFIED FINANCIAL PLANNER® and CFP Brand® are certification marks owned outdoors the US by the Monetary Planning Requirements Board Ltd (FPSB). Monetary Planning Affiliation of Australia Restricted is the marks licensing authority for the CFP® marks in Australia, via settlement with FPSB.