The Financial Services Council (FSC) has expanded its membership groups to include financial advice businesses and has added two new directors from non-institutionally-owned advice licensees to its board.
The FSC said its expanded membership “will add the advice licensees’ expertise to the FSC’s policy development processes and comes at a critical time in the financial advice reform debate”.
As a result of the change, six advice licensees – Count, Fortnum Private Wealth, Infocus, Otivo, Rhombus Advisory and WT Financial Group – have become FSC members.
Additionally, WT Financial Group managing director Keith Cullen and Fortnum Financial Group managing director and group chief executive Neil Younger have joined the body’s board of directors.
FSC chief executive Blake Briggs said: “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.
“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.”
The industry body also announced Australian Unity wealth and capital markets chief executive Esther Kerr and JP Morgan Asset Management Australia and New Zealand chief executive Andrew Creber had joined the board representing its fund management membership.
Commenting on all four appointments, FSC chair David Bryant said: “The FSC is the leading voice in the superannuation, financial advice, investment platforms and funds management sectors.
“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.”
