A collective of former chief executives, board chairs and presidents of the Financial Planning Association (FPA) and Association of Financial Advisers (AFA) has urged the membership of both bodies to back the proposed merger between the two organisations.
An open letter from 15 former senior figures, spanning the past 25 years of leadership in the two bodies, stated they “strongly support the unanimous recommendation of both boards that a merger is in the best interests of members and of the wider profession”.
The letter, signed by six former AFA presidents, three former AFA chief executives, four former FPA board chairs and three former FPA chief executives, added there were many benefits from a merger, but three reasons were the most crucial.
These were “a stronger, united and more powerful voice for policy and advocacy efforts to government, regulators and key stakeholders; a more financially resilient association that will foster and grow the profession by building a community that inspires, connects and serves its members; and a greater capacity for campaigns to raise awareness of and promote the importance of financial advice, amongst both Australian consumers and potential new entrants to the profession”.
The joint letter stated for the merger to proceed, 75 per cent of members had to vote in favour and when voting opened this week “we strongly encourage you to get involved and support the future of our profession by voting ‘yes’”.
“This is a crucial moment in the development of our profession. We have the opportunity to create a strong, unified voice that will strengthen and grow our profession, and positively impact the lives and financial well-being of Australians every day,” it said.
Those who signed the letter are as follows:
Former AFA presidents: Dennis Bateman (2006-2008), Jim Taggart (2008-2010), Brad Fox (2010-2012), Michael Nowak (2012-2014 and 2020-2021), Deborah Kent (2014-2016) and Mark Bineham (2016-2020)
Former AFA chief executives: Richard Klipin (2006-2013), Brad Fox (2013-2017) and Philip Kewin (2017-2021)
Former FPA board chairs: Julie Berry (2007-2010), Matthew Rowe (2010-2014), Neil Kendall (2014-2018) and Marisa Broome (2018-2022)
Former FPA chief executives: Jo-Anne Bloch (2006-2010), Mark Rantall (2010-2016) and Dante De Gori (2016-2022).
