David Sharpe

The member consultation period on a proposed merger between the Financial Planning Association of Australia (FPA) and Association of Financial Advisers (AFA) is due to close on 31 January, with members encouraged to provide their feedback before then.

Members of both associations have been asked for their views on two key documents – a merger summary which includes draft resolutions, and a draft constitution that would form the new constitution of the merged entity.

David Sharpe, chair of the FPA, says the next stage will be to incorporate member feedback, and finalise the draft documents.

 “Member feedback is essential to the proposed merger.  We want to ensure the voices of as many members as possible are heard during this process.

“We have had some very valuable conversations with members so far, and we hope that everyone who has a view on the merger has taken the opportunity to provide it,” Mr Sharpe said.

Sam Perera, president of the AFA, said there have been a couple of key areas of focus during the consultation period, including culture and a new name.

“Community and culture are critical issues for the members of both the AFA and FPA.  We have already established a committee to make recommendations on how to retain the best of both associations.

“As well, members are very interested in the selection of a new name, and we have received lots of feedback that we need a name that is practical, forward-looking, descriptive and professional,” Mr Perera said.

Following the end of the member consultation period, the final merger summary document and the new constitution, as well as the proposed new name of a merged association, will be sent to members of both associations on 6 February 2023.

This will also include details of the Extraordinary General Meetings for both associations, at which the vote will be held. Both EGMs are scheduled for Tuesday 28 February, and will be held at different times at the same Sydney CBD venue.

Members will be able to attend and vote in-person or digitally. They can also vote early by giving their proxy.

If the vote is in favour of the merger, then the new association is expected to legally commence in early April.  A new name and new constitution will be finalised, and the transitional board will start.

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