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THE PROFESSION NEEDS YOU. TAKE YOUR RIGHTFUL PLACE. FPA PROFESSIONAL PARTNERS An invitation to lead the financial planning profession
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THE PROFESSIONNEEDS YOU.TAKE YOUR RIGHTFUL PLACE.
FPA PROFESSIONAL PARTNERS An invitation to lead the financial planning profession
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PURPOSETo help the financial planning industry become
a universally respected profession.
VALUES
Professionalism Standards | Processes | Governance
Accountability Commitment | Responsibility | Delivery
Integrity Ethics | Transparency | Respect
MISSIONThe Financial Planning Association acts in the public interest
by setting, promoting and enforcing the highest standards of professional conduct among its members.
VALUE PROPOSITIONThe Financial Planning Association provides vision,
leadership and resources to raise the professional standards and community standing of its members.
At the end of 2010, we defined and articulated why we exist, what we stand for, our goal
and why it matters.
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THE FINANCIAL PLANNING ASSOCIATION
REPRESENTS 7,500+ MEMBERS.
OUR PLEDGE TO EACH ONE OF THEM IS TO
ELEVATE OUR INDUSTRYTO A UNIVERSALLYRESPECTED PROFESSION.
We’ll do this by providing vision, leadership and resources to keep raising professional standards and the community standing of our members. But we can’t, and nor do we want to, go it alone.
We need you to help us shape the future of our profession – we need your input, your voice and your support.
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LEADING THE FINANCIAL PLANNING PROFESSION
THE FINANCIAL PLANNING ASSOCIATION (FPA) REPRESENTS THE INTERESTS OF THE PUBLIC AND AUSTRALIA’S PROFESSIONAL COMMUNITY OF FINANCIAL PLANNERS.
We are unrivalled in our:
• reach of the financial planning market
• influence on government and regulators
• standards set through our world-class Code of Professional Practice
• unique position as the certification body in Australia for the global CFP® designation, and
• reputation for quality professional development.
With more than 10,000 members and affiliates, of whom 7,500 are practising financial planners and a 20-year legacy, the FPA represents the changing face of financial planning, from industry to a profession.
The FPA has five key roles to play:
1. To represent professionals: to become a member of the FPA, financial planners need to meet higher standards than the minimum levels required by law, so we represent the true professionals in the financial planning industry.
2. To advocate and advance the profession: we represent the collective voice of our members and their clients when lobbying government, the opposition, the regulator and other bodies.
3. To set and maintain high standards: we set and enforce professional and ethical standards for our members to make sure that they conduct business to the highest quality.
4. To award certifications: we are the only Australian body that assesses and awards the CERTIFIED FINANCIAL PLANNER® or CFP® designation, which is the highest certification available to financial planners worldwide.
5. To foster professional development: we design and offer an industry-leading range of training programs to help financial planners keep their knowledge and skills up to date.
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PARTNERING WITH LEADING ORGANISATIONS
TO RECOGNISE THE PIVOTAL ROLE PLAYED BY QUALITY ADVICE BUSINESSES IN TRANSFORMING FINANCIAL PLANNING INTO A RESPECTED PROFESSION, THE FPA CREATED TWO IMPORTANT TYPES OF RELATIONSHIPS.
FPA PROFESSIONAL PRACTICEThis is a financial planning practice that demonstrates the highest professional and ethical standards through adherence to the FPA’s Code of Professional Practice. The practice stands apart as a role model for financial planning in the community through the use of FPA Professional Practice branding.
FPA PROFESSIONAL PARTNERThis is an Australian Financial Services Licensee that is recognised as a promoter of professionalism and a leader in the financial planning community. Professional Partners are committed to furthering the interests of the profession and consumers, and helping the FPA to shape the future of financial planning.
PROFESSIONAL PRACTICE.........................................................................................................FINANCIAL PLANNING ASSOCIATION of AUSTRALIA
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BENEFITS OF THE PROFESSIONAL PARTNERS PROGRAM
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AS AN FPA PROFESSIONAL PARTNER, YOUR BUSINESS WILL BE WIDELY RECOGNISED AS A LEADER IN FINANCIAL PLANNING PROFESSIONALISM THROUGH ALIGNMENT WITH THE PEAK PROFESSIONAL BODY.
You work in partnership with the FPA in shaping the future direction of the profession through a close working relationship with the FPA executive team, and the opportunity to get involved with the FPA’s working groups and projects.
2 You have the opportunity to participate in the big conversations through advisory forums exclusively available to Professional Partners, providing an opportunity to meet regularly with like-minded peers and participate in key debates affecting the industry.
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WHAT ARE THE ADVANTAGES OF BEING AN FPA PROFESSIONAL PARTNER?
As an FPA Professional Partner, you will receive an exclusive benefits package.
• Participation in exclusive Professional Partner forums.
• Privileged access to FPA expert speakers at your PD Days, conferences and other key events.
• Guidance and support from the FPA executive team to help navigate your business through legislative change.
• Joint initiatives tailored to your needs in our areas of expertise: The Code of Professional Practice, Code of Ethics and CFP® designation.
• Corporate membership rate for 50 or more financial planners and staff, saving 10%.
• Corporate rate on high quality FPA online CPD programs for a booking of 10 or more, saving 10%.
• Special Professional Partner rates for the LRS® Life Risk Specialist designation program, saving 10%.
• Special Professional Partner rates for FPA events.
• Priority offers on sponsorship packages for major FPA initiatives.
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THE CPD ACCREDITED ASSESSOR PROGRAM
AS AN FPA PROFESSIONAL PARTNER, YOU ARE EXCLUSIVELY ELIGIBLE TO NOMINATE YOUR IN-HOUSE EXPERTS TO BECOME CPD ACCREDITED ASSESSORS. ON COMPLETION OF THE PROGRAM, YOUR ASSESSORS CAN ACCREDIT YOUR CPD ACTIVITIES RECOGNISED BY THE FPA, WITHOUT THE NEED TO PAY AN ADDITIONAL FEE.
The FPA’s continuing education model recognises that professional competence should be built on a combination of abilities, knowledge and professional skills, beyond the technical capabilities identified in RG146. A CPD Accredited Assessor within your business will help encourage higher quality educational and personal development activities for your team, in a cost effective way.
BECOMING A CPD ACCREDITED ASSESSOR
During the training program, CPD assessors will learn to:
• identify the key drivers behind the FPA CPD Policy
• define ‘continuing professional development’
• identify the professional dimensions and explain their meaning
• explain the FPA’s professional development plan process
• explain the purpose of the accreditation guidelines
• distinguish the ways content can be assessed
• identify the key elements of the quality assessment criteria
• measure the quality assessment criteria against an example activity
• describe the record keeping and audit requirements under the FPA CPD Policy.
For more information, contact the CPD team at [email protected].
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“Now that we have FPA accredited assessors we ensure all our technical updates, PD Days, ethics sessions and adviser development programs have CPD points allocated. We can also reward our advisers who ‘give back’ to their industry and colleagues, by allocating CPD points for their preparation and presentations to staff.”Christine Garberg, Centric Wealth
“As a Licensee, being able to ensure that this training meets a high standard such as FPA CPD Policy is essential in ensuring quality training is always undertaken.”
Philippa Sheehan AFP®, MY Adviser
WHAT FPA ACCREDITED CPD ASSESSORS SAY
“As a Professional Partner of the FPA, we are able to apply more consistent measures towards raising the standards of our people in the provision of quality advice.”
Luke Riboldi, BT Financial Group
“Prior to becoming an FPA Accredited CPD Assessor we had to request (and pay for) the FPA to provide accreditation for our internal training. Being an accredited assessor means that we can save on the cost, as well as ensure that our training programs are accredited within days.”Gayle Forster CFP®, Integrity Financial Planners
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TAILORED PROFESSIONAL INDEMNITY INSURANCE FOR YOUR BUSINESS
FPA PROFESSIONAL PARTNERS ARE INVITED TO TAKE ADVANTAGE OF A BROKER SERVICE NEGOTIATED BY THE FPA WITH INSURANCE BROKING FIRM, JARDINE LLOYD THOMPSON (JLT). THE SERVICE OFFERS PROFESSIONAL INDEMNITY INSURANCE TAILORED TO THE NEEDS OF FINANCIAL PLANNING BUSINESSES.
WHAT CAN JLT DO FOR YOU?
• Advice on policy requirements relating to ASIC RG126 compliance, and assistance with meeting those requirements.
• Tailored quotation terms on your behalf.
• The best possible outcomes and premiums for your business.
• Access to underwriters who understand what it means to be an FPA Professional Partner.
• Access to a team that specialises in the needs of financial planning businesses.
• Other classes of insurance that your business may require (ie Directors’ & Officers’ Liability, Office Pack, Investment Managers Insurance, Travel, Crime).
To find out more, contact JLT on 1300 655 931, at [email protected] or visit www.jlta.com.au/fpa.
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YOUR PRIVILEGES AND OBLIGATIONS AS AN FPA PROFESSIONAL PARTNER
BEING AN FPA PROFESSIONAL PARTNER ENTAILS CERTAIN PRIVILEGES AND OBLIGATIONS.
HOW ARE WE GOING TO HELP YOU?We will, of course, support you by providing the highest quality education, technical and practice management information and learning.
We will also help you to keep the FPA financial planners within your business up to date on the FPA’s Code of Professional Practice by bringing the Code to life in many of our initiatives.
FPA PROFESSIONAL PARTNERS MUST MEET THE FOLLOWING REQUIREMENTS:
• 25% of practitioners are FPA practitioner members or will be in one year.• A signed memorandum of understanding that includes your ‘professional pledge’.
PROFESSIONAL PARTNER FEESFPA Professional Partner fees per financial year are as follows:
A Financial Planning Licensee with 100 or more representatives $10,000 plus GST
A Financial Planning Licensee with 20-99 representatives $5,000 plus GST
A Financial Planning Licensee with less than 20 representatives $1,250 plus GST
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PROFESSIONAL PARTNERS
YOU’LL BE IN FINE COMPANY – OUR 2011/12 PROFESSIONAL PARTNERS INCLUDE MOST OF AUSTRALIA’S MAJOR FINANCIAL PLANNING BUSINESSES.
Financial Planning
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AFSL & ACL No. 238256
ADVICE
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THE FPA EXECUTIVE TEAM
AS A PROFESSIONAL PARTNER, YOU WILL GAIN PRIVILEGED ACCESS TO THE FPA’S EXECUTIVE TEAM.
MATTHEW ROWE CFP®,FPA CHAIR
Matthew Rowe is the Chair of the FPA and has been an FPA
board member since 2007.
Matthew is passionate about professional standards and ethics, chairing the committee that wrote and implemented the FPA’s Code of Professional Practice.
Matthew also chaired the FPA Remuneration Committee that delivered the FPA remuneration policy position in 2009, banning commissions and managing the change process that will see FPA members having to adopt more transparent remuneration from 1 July 2012. He also chaired the FPA’s working group responding to the Ripoll Inquiry, and has chaired the FPA Board Professionalism Committee and the FPA Professional Conduct Committee.
Matthew is a partner in an accounting and financial planning professional practice, being the Managing Director of Hood Sweeney based in Adelaide. Hood Sweeney is ranked in the BRW Top 30 accounting firms and twice in the last five years has ranked in the BRW Top 10
fastest growing accounting firms in Australia.Matthew is also a Trustee and Director of Future2 – the charitable foundation of the financial planning profession.
MARK RANTALL CFP®,CHIEF EXECUTIVE OFFICER
Mark Rantall was appointed by the FPA Board in 2010 to lead
the FPA in raising the standing of Australia’s professional financial planners.
Mark has spear-headed the campaign to raise awareness of the higher standards of FPA members to the government, media and other industry stakeholders on behalf of the FPA’s practitioner members and the 5 million clients they advise.
Prior to the FPA, Mark was involved in the creation of The NAB Academy and held the post of Dean of Advice after serving as Managing Director of Godfrey Pembroke from 2003 to 2008. In this role, Mark successfully facilitated more than 200 Godfrey Pembroke advisers to transition to a fee-for-service remuneration model.
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DANTE DE GORI,FPA GENERAL MANAGER, POLICY & GOVERNMENT RELATIONS
Dante De Gori is responsible for driving the proactive policy and government relations strategy for the FPA, leveraging his extensive experience in supporting financial planners in technical strategies and legislative analysis.
Since joining the FPA in 2010, Dante has participated in more than 12 government committees and consultation groups, led the formulation of FPA Policy on over 50 submissions to government and ASIC, and been instrumental in the FPA’s consultation with Treasury on the FoFA reforms.
Prior to joining the FPA, Dante was a Technical Manager at ClearView Financial Management providing technical support to financial planners in the areas of taxation, superannuation, estate planning, life insurance and social security legislation. Dante has also worked at Zurich Financial Services and Asteron, providing technical strategies and legislative analysis to financial planners.
PAUL BARSBY,FPA NATIONALSALES MANAGER
Paul Barsby is responsible for
developing the relationship that the FPA has
with Professional Partners, who are Australian
Financial Services Licensees.
Paul works closely with the Professional
Partners in promoting professionalism, the
FPA’s Code of Professional Practice, the CFP®
designation and the benefits of joining the FPA
community.
Paul joined the FPA in 2011, following 25 years’
financial services experience in the UK and
Australia. During this time, Paul has worked
within funds management, financial planning,
sales and marketing roles for AXA, Deutsche
Asset Management, Westpac and Prudential.
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ABN 62 054 174 453GPO Box 4285 Sydney NSW 2001
Phone 02 9220 4500 Fax 02 9220 4580
Members call 1300 337 301 Consumers call 1300 626 393
[email protected] www.fpa.asn.au
CFP®, CERTIFIED FINANCIAL PLANNER® and CFP Logo® are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Association of Australia Limited is the marks licensing authority for the CFP Marks in Australia, through agreement with FPSB.
