The Association of Financial Advisers (AFA) is saddened by the loss of Former AFA President and former South Australian State Director, Michael Murphy, who died at the age of 66, after a six year battle with cancer.
In announcing his loss to AFA members, AFA CEO Richard Klipin said Mr Murphy, who was affectionately known as ‘Murf’, served the AFA with great distinction.
“Murf was instrumental to the AFA in so many ways,” Mr Klipin said. “He contributed in so many roles, in so many capacities and over so many years. He served as AFA President and as State Director for his home state of South Australia. He was a Life Member of the AFA; he was instrumental in the AFA’s policy work and appeared before a number of government enquiries. He served on the Board of the AFA Foundation and led us through some very tough times and out the other side. His loss is keenly felt by the entire AFA community.”
As 2002 South Australian director, Mr Murphy is credited, along with the 2002 Board, of putting in place measures which financially resurrected the AFA. As 2005/06 President, he set the foundations which allowed the AFA to grow. He was also fundamental in the decision to recruit Richard Klipin to the role of CEO.
Mr Murphy started his career in the life insurance industry in 1986, as an agent with Legal and General, progressing his career through study and experience to ultimately hold his own AFSL in 2003.
As well as his terms as President and State Director, Mr Murphy also served as Chairman of the Public Affairs Committee from 1999 to 2006, making representations to the Parliamentary Joint Standing Committee on Financial Services Reform on behalf of advisers in the lead up to the implementation of the Financial Services Reform Act (FSRA).
He was the Australian delegate to the Asia-Pacific Financial Services Association and was invited to join their Management Board in 2004. In this capacity, he was involved in negotiating an International Standard for Financial Planning, and was the signatory on behalf of the Asia-Pacific Financial Services Association’s registering the International Federation of Financial Standards (Rotterdam), established in conjunction with the European Financial Planning Association, setting international standards for the Financial Services Industry. He was also a Top of the Table qualifying member for the Million Dollar Round Table (MDRT).
In 2009, Mr Murphy became the inaugural winner of the AFA’s ‘best and fairest’ award which was named the AFA Michael Murphy Award (the Award) in his honour.
“The Award recognizes exceptional service on the part of AFA members to the further growth and development of the association,” Mr Klipin said. “But it is much more than that. It celebrates the spirit of the man, who had a way of including, of engaging that still runs through the veins of the AFA today. Murf welcomed all to the AFA from the newest newbie to the most experienced practitioner.”
Mr Murphy fought his battle with cancer bravely and with great humour, enduring multiple surgeries and courses of many drugs, including experimental. He also lived what he spoke.
At a final presentation to Gold Financial advisers in Adelaide in March this year, for his great friend and fellow AFA Life Member, Bernie Toohey, Mr Murphy said, “I haven’t spent the last six years dying, I have spent the last six years living.”
He said he had planned succession in his business and had been paid out on the income protection, trauma and life insurance (via terminal illness benefit) policies he had put in place to protect himself and his family.
Mr Klipin said Mr Murphy will be remembered by the financial advice community as a man of great humanity, great compassion and overwhelming conviction about the value of advice and its power to transform the lives of ordinary Australians.
“As he said in the AFA’s 65th anniversary book, ‘We are all put on this earth to serve.’ He touched many lives and has been a great example to so many others. To the end he has been a leader to his peers.”
Mr Murphy is survived by his wife, Charlotte; their adult son; five adult daughters, and only granddaughter. His funeral will take place this Friday 15 June at St Ignatius Church Adelaide at 1.30pm followed by a private party in his honour. He will be buried on Saturday 16 June. In typical Murf style, he didn’t want to break up the party on Friday.
13 June 2012