The 2026 FAAA Awards recognise advisers and practices delivering the highest standards of professional advice to Australian consumers. The awards also acknowledge those who go above and beyond, giving back to their communities through pro bono work and volunteering. Additionally, the awards celebrate the next generation of advisers coming through university programs, recognising the emerging talent that will shape the future of the profession.

FAAA general manger membership and strategic initiatives, Tania Milnes, says this year’s finalists reflect the breadth of talent across the profession.

“The FAAA awards acknowledge those who are truly committed to putting their clients first, supporting their communities, and raising standards across financial advice.

“Each finalist embodies the professionalism and care that defines our profession, whether through their exceptional client work, their leadership within their organisations, their contributions to their local community, or their potential as emerging professionals,” Ms Milnes said.

The finalists of theFAAA CERTIFIED FINANCIAL PLANNER® Professional of the Year Award are:

• Scott Quinlan CFP®, Solace Financial
• Dawn Thomas CFP®, The Wealth Designers
• John Versace CFP®, Apt Wealth Partners

The finalists for the FAAA Inspire Women – Excellence in Advice Awardare:

• Sophie Doyle, Morgans Financial Limited
• Morgan Hayward, Lume Wealth
• Andrea Jenkins CFP®, Jenbury Financial

The finalists for FAAA Risk Adviser of the Year Award are:

• Mark Everingham CFP®, Personal Risk Professionals
• Cameron Peck CFP®, Safeguard Life

The finalists for FAAA Holistic Adviser of the Year Award are:

• Nathan Fradley FChFP, Fradley Advice Pty Ltd
• Charmaine Hall, Unbound Financial

The finalists for the FAAA Professional Practice of the Year Award are:

• Apt Wealth Partners, VIC
• Oxlade Financial, QLD
• Solace Financial, QLD

The finalists for the FAAA Gen Next Rising Star of the Year Award are:

• Eleanor Bagg CFP®, EJM Advice
• Braden King, Everest Wealth
• Lydia Toghill, Collins SBA

The finalists for the FAAA University Student of the Year Award are:

• Kayla Bradfield, Swinburne University of Technology
• Linda Connolly, Deakin University
• Jaxon Goddard, Curtin University

Ms Milnes thanked the award supporters, noting their dedication to recognising excellence across the profession.

“We’re grateful for the support of our award sponsors, who share our commitment to advancing standards in financial advice. Their involvement in the awards program reinforces the importance of recognising and celebrating the achievements of the advisers and practices leading the way in our profession.”

Kieran Forde, head of adviser channel at Zurich Australia, sponsors of the FAAA Adviser of the Year Award and Risk Adviser of the Year Award, said Zurich congratulates the finalists for their achievements and for leading the way in financial advice.

“What stands out about this year’s finalists across both categories is the dedication, professionalism and client focus they bring to their work every day.

“Being named a finalist is a significant achievement and recognition of the high standards being upheld across the advice profession. The strength of this year’s field reflects the important role advisers play in helping Australians make confident financial decisions, and every finalist should be proud of this recognition.”

Andrew Gregory, chief advice officer at UniSuper, sponsor of the FAAA University Student of the Year Award, said the calibre of entrants for this award continues to impress.

“UniSuper is proud to support the next generation of advice professionals through this award for a third year. With more nominations received than ever before, it is inspiring to see so many emerging professionals recognised for their genuine commitment to the future of financial advice.”

Beau Riley, general manager retail at TAL, sponsor of the FAAA Inspire Women – Excellence in Advice Award, said the finalists are being recognised not only for the quality of advice they deliver, but for the example they set across the profession.

“These finalists show what’s possible when you combine real expertise with genuine care for your clients. Through their leadership, professionalism and commitment to delivering better client outcomes, they’re inspiring others and helping strengthen the future of advice.

“Congratulations to everyone who made the finals. It’s a privilege to see the impact you’re having on your clients, your communities and the industry. Well deserved.”

Tickets to the FAAA Congress 2026 and FAAA Awards Gala Dinner are now available via the FAAA website.

The post Finalists announced for the 2026 FAAA Awards appeared first on AdviserVoice.

Sarah Abood

Sarah Abood, CEO of the Financial Advice Association Australia (FAAA), says Minister Mulino’s National Press Club address next week must put Australians’ access to affordable, trustworthy financial advice at the centre of the Government’s reform agenda.

With Australians facing rising living costs, a more complex tax system, and an increasingly difficult financial landscape to navigate, the FAAA says the Government must act on four issues that directly affect consumers’ ability to access trusted professional financial advice:

• Making the Compensation Scheme of Last Resort (CSLR) sustainable, so the costs do not continue to drive up the price of advice.
• Preventing future harm, particularly from predatory lead generation practices that can steer consumers towards inappropriate financial products.
• Enabling consumer choice and lower costs through the implementation of sensible Delivering Better Financial Outcomes (DBFO) reforms.
• Supporting the growth of the financial advice profession across all business models, ensuring consumers have choice about how they access advice.

Advice costs rising fast

“Financial advice has never been more important, but too many Australians simply cannot afford it,” Abood says.

“The median price of financial advice has shot up by 65% over the past five years, and is currently around $4,700. Every dollar added to the cost of providing advice makes it harder for consumers to access that advice.”

FAAA research shows that nine in ten advisers expect the CSLR levy to further increase the cost of advice, with the average practice facing a bill running into thousands of dollars per adviser, Abood says.

“Innocent financial advisers are currently paying these bills, and in many cases are forced to pass the costs on through higher advice fees. Consumers should not have to pay even more for professional financial advice because of failures by completely unrelated firms and in other parts of the financial services system.

“Wrongdoers should be pursued for compensation payments before innocent parties have to foot the bill, and AFCA’s rules and powers should be strengthened so complaints can be made against all parties that contributed to consumer detriment. Without these changes, consumers receive less compensation and protection, while the costs of the CSLR and financial advice continue to rise.”

Protection from aggressive sales tactics

The FAAA says the collapse of the Shield and First Guardian products show how devastating high-pressure sales tactics can be when unregulated lead generators funnel consumers, often via unsolicited calls, into products promising high returns.

“Around 12,000 Australians lost, in some cases, all their retirement savings after being targeted by sales processes that looked and felt like advice,” Abood says.

“Consumers need stronger protections against predatory lead generation, while still being able to find the right adviser for them.”

The FAAA says the DBFO reforms must deliver the simpler, more efficient advice system that was promised.

“Consumers should not be paying for unnecessary paperwork and regulatory complexity,” Abood says.

Growing the profession and supporting choice

The FAAA says the number of financial advisers has halved since 2019, while the demand for advice is skyrocketing as more Australians reach retirement age.

“We support the Government’s proposed education reforms and urge Government to bring these forward as soon as possible. Growing supply and ensuring there are a diverse range of advice practices will help lower costs for consumers, while also ensuring they have genuine choice in how and from whom the service is accessed.”

Abood says the Minister’s address is an opportunity to put consumers back at the heart of financial advice reform and prevent future harm.

“Australians need a financial advice system that is affordable, accessible and trustworthy,” Abood says.

“We are calling on the Minister to use next week’s address to commit to a sustainable CSLR, prevent future harm, shut down predatory lead generation practices, deliver sensible DBFO reforms and help grow the financial advice profession – reforms that will directly help more Australians access the quality financial advice they need.”

The post FAAA calls on Government to put Australian consumers at the centre of financial sector reform appeared first on AdviserVoice.

Phil Anderson

The announcement of another sizeable CSLR cost of $190 million in 2026/27, and the prospect of sizeable special levies for the foreseeable future, is an unsustainable burden for financial advice practices and their clients, while offering little comfort to the victims of financial collapses.

We support the principle of compensation and accountability where misconduct occurs. However, a fair scheme must not undermine the ongoing viability of the advice profession at a time when more Australians than ever are seeking professional advice to help navigate life’s hurdles, including recent major Budget tax changes as well as aged care and NDIS changes.

We urge the Government to cap the total CSLR levy (annual plus special levy) so that financial advisers pay no more than $20 million until we have a sustained increase in adviser numbers. This will ensure Australians do not miss out on the advice they need.

The financial advice profession is made up primarily of small and micro businesses, with an average of only 2.5 advisers per practice. These small businesses have little ability to absorb additional significant costs, and the FAAA’s member survey in April this year shows many are considering leaving the profession and abandoning recruitment plans.

This survey of FAAA members found the CSLR special levy is set to significantly impact Australia’s financial advice landscape, with most respondents saying it will push up costs for clients, accelerate adviser exits and reduce recruitment. Nine out of ten advisers expect the levy to increase the cost of financial advice and 70 per cent of advisers believe the CSLR levy will result in a reduction in adviser numbers^[1]. Whilst the CSLR special levy is labelled as a financial advice sector cost, the Shield and First Guardian collapses demonstrate that many sectors have contributed to the substantial client losses. The special levy must be shared broadly across financial services sectors.

The Albanese Government has shown admirable willingness to provide targeted support for essential industries that are facing significant headwinds. For example, in May 2026, it suspended the Commercial Broadcasting Tax for a further two years delivering $111.3 million in savings for the commercial broadcasting sector. We urge the Government to show a similar commitment to financial advisers.

By Phil Anderson, general manager policy, advocacy and standards

———-

Notes:
[1] This is reinforced by the ABS June 2026 Business Conditions survey which found that:

The post CSLR “special” levy a further blow to accessible, affordable financial advice appeared first on AdviserVoice.

Sarah Abood

The FAAA welcomes the fact that the Federal Government’s proposed changes to CGT and negative gearing in the Budget did not impact superannuation. However it says an unintended consequence is that there is now a substantial tax incentive for Australians who want to invest in established residential property to do so via a Self Managed Super Fund (SMSF) which raises concerns that people will be convinced to do so via high pressure sales tactics without the benefit of financial advice, without a full understanding of the obligations that they are accepting as trustees of a super fund and without appreciating the risks involved with such strategies. 

In its submission on the inquiry on the Treasury Laws Amendment (Tax Reform No.1) Bill 2026 (attached), the FAAA make four recommendations to address these concerns. 

The FAAA will be presenting at the Senate Economics Legislation Committee public hearing today at 10.30am to further discuss the issues.

Read the submission.

The post FAAA: Unintended SMSF consequences from CGT and negative gearing changes appeared first on AdviserVoice.

Sarah Abood

A survey of members by the Financial Advice Association Australia (FAAA) shows the Compensation Scheme of Last Resort (CSLR) levy is set to significantly impact Australia’s financial advice landscape, with the majority of respondents saying it will push up costs for consumers and accelerate adviser exits.

The findings show that nine out of ten advisers expect the levy to increase the cost of financial advice, as firms move to pass on the impact of a potential $4,000 per adviser bill. In addition, 70 per cent of advisers believe the CSLR levy will result in a reduction in adviser numbers.

Advisers are calling for the government to make significant changes to the CSLR scheme including:

• 79 per cent want the cost of any special levy spread across the financial services sector on a more even basis
• 63 per cent want to cap the total amount paid by the advice sector, and
• 74 per cent are calling to change AFCA rules to better allow investors to make complaints against the management of MISs and superfunds as a whole.

FAAA CEO, Sarah Abood, said the findings highlight a growing disconnect between the intent of the CSLR and its real-world impact.

“The clear message from advisers is that the CSLR levy will be felt not just by advisers but also by consumers – through higher advice costs and reduced access to advice.

“The financial advice profession is made up primarily of small and micro businesses, with just over 15,100 advisers spread across 6,073 practices – an average of only 2.5 advisers per practice. These small businesses have little ability to absorb large additional costs.

“We are already seeing signs that the levy is affecting both retention of existing advisers, and the pipeline of new advisers. A continually shrinking profession will have long-term negative consequences for access and affordability of advice for everyday Australians.”

Highlighting a growing risk to the sustainability of the profession, nearly seven in ten advisers (69 per cent) expect a material hit to profitability, with 32 per cent forecasting a major impact of more than 10 per cent.

To offset the cost, 79 per cent of advisers say they will be forced to increase client fees.  Others are considering scaling back investment in people, with 36 per cent planning to reduce new adviser appointments.

Further, almost half (44 per cent) report knowing colleagues who are planning to leave the profession as a result of the impact of CSLR, and 9 per cent say they intend to exit themselves, raising concerns about access to affordable financial advice at a time when demand is rising.

“There is strong support amongst advisers for a more balanced and sustainable funding model. Financial advisers should not be bearing a disproportionate share of the cost for failures that occur elsewhere in the system when products collapse, and they should not be paying for the misconduct of a tiny minority of advice businesses that have done the wrong thing,” Abood says.

“We support the principle of compensation for consumers, but the scheme must be fair, sustainable and not undermine the ongoing viability of the advice profession.”

———-

The FAAA Member 2026 Survey: Impact of the Compensation Scheme of Last Resort (CSLR) Levy was undertaken in March 2026 and open to all FAAA members.  Its purpose was to understand the impact of the CSLR levy (ongoing and special levy) on professional financial advisers.

The post CSLR levy to shrink adviser numbers: FAAA survey appeared first on AdviserVoice.

The FAAA has seven key recommendations:

• Clarity of Impact. We recommend that the Government makes it very clear that this proposed reform will have no impact on existing providers who have already met the education standard, including via qualification for the Experienced Provider Pathway.
• Support for Existing Financial Advice Education Providers. In undertaking this proposed change to the education standard, we recommend that the transition is designed in a way to support those HEPs who have previously developed approved programs to ensure that they are not disadvantaged and can continue to make their courses available for potential students.
• Existing Approved Programs to Continue. We recommend that the Government allows all existing programs to remain approved and to continue to be available to potential students.
• Guidance for Licensees. We recommend that the Government facilitate the development of guidance for licensees to ensure that they are suitably aware of the criteria for the approval of study by new entrants.
• Inclusion of the Creation of a Statement of Advice in Accredited Subjects. We recommend that consideration be given as to how the creation of a Statement of Advice can be included in the accredited subjects.
• Participation in Curriculum Development. We recommend that the Government include the professional associations in the process to develop the revised curriculum and that ongoing refinement of the curriculum is approached on a co-regulation basis.
• Cost and Funding for Financial Advice Programs. We recommend that the Government consider the best approach to the packaging of financial advice education programs to ensure that courses can be provided in a manner to best enable access to Commonwealth funding and models for the deferral of payment.

Read the submission.

The post FAAA submission on Education Reform for Financial Advisers appeared first on AdviserVoice.