David Sharpe

In the three years since the Association of Financial Advisers (AFA) and the Financial Planning Association of Australia (FPA) merged to become the Financial Advice Association Australia (FAAA), the FAAA has become the unified voice speaking for professional advisers in Australia, says FAAA Chair David Sharpe.

“This Friday (3 April 2026) marks the three-year anniversary of the FAAA, formed with the overwhelming support and votes of members of both heritage organisations. Together, we now have 10,799 members, and the future of the profession is bright,” Sharpe says.

“What  I am most proud of is that the FAAA saw the coming together at the board, management and most importantly at the member level like we had always been one.

“The FAAA very quickly formed its own identity with members. Our communities have come together and created grassroots events and connections for members right across the country.

“The release of the 2030 Strategic vision and the Policy Platform at Congress 2024 consolidated what the FAAA stands for and what it hopes to achieve.

“With considerable challenges such as CSLR and confusion over AML – the benefit of a professional voice speaking for our members has never been more important,” Sharpe says.

Some key milestones for the FAAA since the merger include:

• The launch of the Advice Academy in November 2025 to help build and support a pipeline of new advisers entering the financial advice profession
• The announcement by the ATO in September 2024, after consistent lobbying from the FAAA, that greater deductions for upfront financial advice fees are now available
• The launch of the Advice Ambassadors program in February 2025, aiming to pair each member of parliament with a financial adviser in their electorate, ensuring their awareness of our issues and the value we add to local communities.
• The signing of a memorandum of understanding in November 2024 with FPSB India, a subsidiary of the Financial Planning Standards Board (FPSB), and the FAAA, to promote cross-border mobility and professional development for CERTIFIED FINANCIAL PLANNER (CFP) aspirants and professionals.
• The November 2024 launch of a major consumer digital marketing campaign, promoting professional financial advice to consumers and explaining the value of obtaining advice from a member of the FAAA
• The September 2024 launch of an upgraded Find a Planner tool to help members connect with their ideal potential clients and grow their businesses
• The launch of the FAAA careers centre in June 2024 which features advice related roles at all stages, and which is actively promoted to student members and graduate members seeking employment in advisory firms.

Marisa Broome, FPA chair from October 2018 until May 2022, said the goal was to present a strong unified voice to stakeholders, and this has been achieved.

“It was very evident to then FPA CEO Dante de Gori, and me, that when the AFA and FPA joined together to meet with our politicians and regulators, we had a far greater impact,” Broome says.

“The AFA and the FPA were more similar than different – and in fact shared well over 1,000 members.  It made sense to join resources and be able to represent the majority of the professional financial advice sector.

“It was fortunate that our work with previous AFA presidents had built a lot of trust.  The openminded approach of then AFA president Sam Perera, and the trust we continued to build, provided the opportunity for the merger to be presented to the AFA and FPA boards.”

Sam Perera, AFA president from October 2021 until the time of the merger, said the AFA pursued the merger to ensure the success and longevity of the 77-year-old Association against the backdrop of a profession that desperately needed a strong, unified voice.

“We were convinced that coming together as the FAAA would enable us to be better resourced, more sophisticated, and a respected voice for the profession,” Perera says.

“It is clear that the FAAA has indeed risen to be the legitimate voice for the profession, advocating relentlessly for policy settings that enable financial advisers and their practices to thrive.

“Another important measure of success was our Association’s ability to keep members at the heart of everything it pursues. To that end, I congratulate David Sharpe, the FAAA Board and FAAA CEO Sarah Abood for their tireless work in translating the vision we had in 2023 into a reality.”

Sharpe also paid tribute to board members who recently stepped off the transitional FAAA board: Patricia Garcia and Katherine Hayes.

“The creation of the transitional FAAA board following the merger, comprising eight directors from the FPA and four from the AFA, and tasked with overseeing the transition and guiding the new association for three years, was extremely successful. I thank Patricia and Katherine for their service to the profession and their activity on the board over the past three years.”

FAAA CEO, Sarah Abood says the one constant for the financial advice profession is legislative change.

“The overwhelming vote to merge the two associations was a strong endorsement, with almost 97 per cent of members who voted, across both heritage associations, having voted to come together. It was a clear message that financial advisers wanted a unified membership body to represent them, support them and to navigate the ongoing legislative and regulatory change that faces the profession.

“While the FAAA has achieved much over the past three years, there is still work to be done and the policy and advocacy team’s work is continuing apace.”

“We are proud to represent professional financial advisers and the great work our members do every day, helping Australians become better off financially and achieve their goals and dreams.”

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Sarah Abood

Early bird tickets to the Financial Advice Association Australia’s (FAAA) 2026 roadshow are now available. The roadshows will take place across Australia, visiting six cities during April and May.

FAAA CEO Sarah Abood, general manager of policy, advocacy & standards Phil Anderson, and chair David Sharpe CFP® will provide updates on the FAAA’s activities and priorities.

The keynote speaker is Jacqui Cooper OAM, Australia’s most decorated aerial skier. A five-time Winter Olympian, World Champion, and one of the most successful aerial skiers in the history of the sport, Cooper has spent over two decades quite literally defying gravity. Her session will be a masterclass in resilience, reinvention, and relentless self-belief.

Other key sessions include:

• Business Efficiency: Beyond AI Filenotes – Unlock the next wave of efficiency in financial advice: In this collaborative session we will hear from three tech providers who have come together to solve for developing efficiencies in the advice process. They will discuss where tech is now and how advice firms are maximising automation today. This session is tech tool agnostic, and will provide advisers with practical ways to enhance the client experience and scale their advice offering.

• Advising with Confidence – Working Through Ethical Conflict: In this adviser-led interactive 60-minute session, advisers will practise recognising conflicts and working methodically through grey areas. Attendees will walk away with a practical framework to use when next faced with a complex, ethically challenging client situation.

• Hear from award-winning advisers. At each Roadshow session, an FAAA award-winning adviser will share their insights, their path to success and what makes their business and practice unique.

Abood says Roadshow helps create meaningful opportunities to connect with industry peers.

“We’re bringing people together from across the profession to unpack what’s happening, share practical experience and have honest conversations about the realities of advice today,” Abood says.

“With regulatory settings and client expectations continuing to evolve, these events create a practical and engaging opportunity to remain connected and confident in our industry.

“Our program has been carefully curated by advisers, for advisers. That means the discussions are grounded, relevant and useful for advisers and their staff, generating practical takeaways that can be integrated quickly into their practice.”

The roadshow will visit:

• Brisbane – 28 April

• Canberra – 30 April

• Melbourne – 5 May

• Sydney – 7 May

• Adelaide – 13 May

• Perth – 15 May

Early bird tickets are $149 for members (including GST) and for non-members $299 (including GST).  Bookings of two or more people by FAAA members receive a further 10 per cent discount on all tickets. Up to 4.25 CPD hours are available to attendees. Tickets are now available via https://faaa.au/roadshow/

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Mark O’Flynn

The winners of the 2025 FAAA Awards have been announced at this year’s FAAA Congress Gala Dinner in Perth (Wednesday 19 November 2025).

The awards acknowledge the work of outstanding individuals in the financial advice profession who display leadership, innovation, client focus and an ongoing commitment to excellence at both an individual and practice level.

Following an in-depth judging process, 18 finalists across six categories were recognised for their focus on delivering the highest standard of trusted and professional advice to Australian consumers. 

The winner of the FAAA CERTIFIED FINANCIAL PLANNER® Professional of the Year Award is Mark O’Flynn CFP® of Oxlade Financial in Queensland.

Mr O’Flynn has more than 20 years’ experience in financial advice and is the managing director at Oxlade.

FAAA Chair David Sharpe CFP® said Mr O’Flynn has shown great dedication to improving the lives of his clients.

“Mark not only clearly demonstrated a level of technical excellence, incorporating engagement with all the professionals in a client’s life, but he also showed great empathy and professional judgement to adapt and deliver client first advice in times of considerable client distress.

“As an active member of the FAAA, Mark is passionate about the future role of the profession. I warmly congratulate Mark on being named this year’s FAAA CERTIFIED FINANCIAL PLANNER® Professional of the Year.”

The FAAA Adviser of the Year Award (sponsored by Zurich) was presented to Christine Swanson of Prominent Financial Services in South Australia. Ms Swanson is the senior financial adviser and director of Prominent Financial Services and started her career in 1987. The judges were impressed with Christine’s great dedication and advocacy for the profession, purpose-built business practices around the client journey, and overall contribution to the financial advice profession.

The winner of the FAAA Professional Practice of the Year Award is Boutique Advisers Private Wealth in WA, with managing director Gary Hasler CFP® accepting the award. The firm has been operating since 1991 and joined the FAAA Professional Practice Program in 2012.  The judges commented on Boutique Advisers’ sustained contribution to the profession and the broader community, as well as the practice’s ongoing investment in upskilling and developing their team.

Kelly King, director and senior wealth adviser of Iconic Wealth in WA, has taken out the FAAA Inspire Women – Excellence in Advice Award (sponsored by TAL). She founded Iconic Wealth in 2002 with the goal of delivering technically excellent, deeply personal advice that aligns financial strategy with clients’ life goals.  The judges noted Ms King’s strong advocacy for females in financial advice and the way she leverages all opportunities to promote this, as well as her commitment to female causes, including helping to build a female business community and through support of a crisis accommodation charity.

The FAAA Gen Next Rising Star of the Year is Aayush Sharma from Frost Financial Services in NT. The award recognises members in the first four years of practice in the profession or first six years of employment within the advice sector. Mr Sharma joined the firm in 2021 and has a bachelor of accounting with a major in financial planning. The judges noted that he exemplifies the core values of the FAAA—advocacy, leadership, and professional growth, and his passion and initiative make him a standout emerging adviser.

The FAAA University Student of the Year Award (sponsored by UniSuper), which recognises members who are enrolled in a financial planning related course in a tertiary institution or equivalent, was awarded to Katherine Mitterer from Queensland. Ms Mitterer has a diploma in accounting and is currently studying for her bachelor of business (financial advice) at the University of South Australia.  She describes herself as driven to help others navigate their own financial journeys with empathy and clarity. The judges were impressed not only with how passionate Ms Mitterer is about advice, but also her ability to make a career change whilst juggling a young family, online remote study and the role of President for the financial planning student society at her university.

FAAA chief executive officer Sarah Abood congratulated all this year’s award winners.

“The FAAA Awards recognise excellence in the financial advice profession and celebrate those demonstrating the highest standards of professionalism and care, and I congratulate all the winners and finalists at this year’s Awards,” she said.

“They are showcasing the positive and life-changing impact that financial advisers can have, particularly in Australia’s complex and ever-changing financial environment.

“This important recognition can’t happen without the help of our award sponsors, and we thank TAL, Zurich and UniSuper for their ongoing support and commitment to recognising excellence in our profession.”

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Sarah Abood

Nominations for the Financial Advice Association Australia’s (FAAA) Member Elected Directors will open on 2 September 2025, with members able to nominate for three positions on the FAAA board, each to serve a three‑year term.  

Nominations will close on 23 September 2025.  

FAAA chief executive officer Sarah Abood said the new board members will play a key role in helping shape the future of the profession.  

“We are a member led organisation, and having a majority member-elected board ensures we stay close to the advisers we are here to represent. Two years out of every three, we have elections, which also ensures our Board continues to reflect the changing skills, diversity, priorities and practitioner experiences at the heart of our profession,” Ms Abood said.  

“If you – or someone you know – has energy and passion to help create a great future for financial advice, I really want to encourage you to nominate. If ever there was an important time to guide the future of the profession, it’s now.

“As a Director of the FAAA, you set our strategy and policy platforms, support high professional standards, and advocate for and represent our broader membership. It’s an important role and it puts you at the centre of decision-making for the future of the association – supported by a talented and committed team of 40 FAAA staff.”

Ms Abood says those interested should keep a lookout for the FAAA’s Nominations email, which will be sent to all eligible Ordinary Members on 2 September. “Ordinary Members”, who are eligible to nominate and vote, are members in CFP and practitioner categories who have renewed for the 2025/26 financial year (Affiliate members are not eligible to nominate or vote). 

Nominees require a Proposer and a Seconder, both of whom must also be Ordinary Members. 

After nominations are finalised, voting will open on 7 October, and close on 21 October. The FAAA will notify members of the results in advance of the Annual General Meeting, which will be held on 18 November and will include the appointment of new directors.  

Nominees will need to read the FAAA Board Charter, Officers’ Code of Conduct, and the FAAA Member Director Role Description, then submit their nomination using an online form. The nomination form asks candidates to address four key areas in up to 200 words each, including involvement in FAAA committees or communities, prior board experience and governance skills, financial literacy and business acumen, and a candidate “pitch”. 

The FAAA acknowledges the contribution of departing board members William Johns CFP®, who having completed two consecutive terms is ineligible to stand again, and Angela Martyn CFP®, who has announced her decision not to re‑stand upon her retirement from the profession. 

“On behalf of the FAAA, I thank William and Anglela for the significant contribution they have made to the organisation over their respective terms, and wish them well for the future,” David Sharpe, FAAA chair, said.  

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Mr Ormsby is a financial adviser at O’Sullivan Financial based in Brisbane. He holds a Bachelor of Commerce, majoring in Financial Planning and Finance which included a minor in Taxation at Griffith University. He is currently undertaking study for a Master of Financial Planning qualification.

Named after the late ‘First Lady of Financial Planning’, the award recognises the highest performing student in the CERTIFIED FINANCIAL PLANNER® Certification Unit (CFP C) for each semester, with demonstrable dedication to providing high-quality financial advice. The CFP® designation is the largest and best-recognised financial planning designation globally.

Mr Ormsby said receiving the award is a proud moment in his professional journey, and will set him up for success during the next phase of his career.

“It’s incredibly rewarding and a little surreal to receive this honour. When I first learned about the award I was inspired by Gwen Fletcher’s impact on financial planning in Australia, which makes this recognition even more meaningful,” Mr Ormsby said.

“I would highly encourage anyone serious about a career in financial planning to pursue their CFP accreditation. It’s a challenging program, but incredibly rewarding. The depth of knowledge you gain, especially around strategy, ethics, and client engagement, really sets you up to deliver meaningful advice.”

David Sharpe CFP®, FAAA chair, applauded Mr Ormsby’s efforts during the program and acknowledged those that completed CFP certification this semester. 

“This is a fantastic achievement by David, and I particularly congratulate him on his ongoing commitment to the highest levels of education in financial planning.  Such commitment honours the legacy of Gwen Fletcher who was a pioneer in education for financial planners and who elevated our profession to another level,” Mr Sharpe said.

“Everyone who takes part in the CFP® Certification Program puts in a high degree of work and effort, so it has been a consistent challenge to select a recipient of the award each semester.

“David has demonstrated strong dedication and commitment to his studies, and on behalf of the FAAA, I congratulate him on reaching the highest level of professional certification in financial planning.”

The other financial advisers who successfully completed the CFP certification this semester alongside Mr Ormsby were: Katrina Dhu, David Selby, Erica Williams, Matthew Tsimos, Matthew Crick, Amber Dawson, Victor Idoko, Ling Feng, Eleanor Bagg, Sebastian Pfab, Rosie Bouton, Wen Chien Chang, Thomas Gray, Cameron Fraser, James Alexander, Yanni Mavrikis, Adam Drakos, Rhiannon Karey, Mengying Wu, Imogen Kate Roles, Michal Lancemore and Steven Amor.

The CFP designation is the most respected financial planning designation globally, with more than 223,700 CFP professionals worldwide. It is a symbol of excellence for financial planners around the world who are actively committed through higher education and accountability to adhering to world-class professional and ethical standards. The CFP designation offers financial planning professionals a way to differentiate themselves in the profession. 

“The CFP Certification Program is an important part of the FAAA’s efforts to equip planners with the skills needed to provide the best quality financial advice to Australians. We continue to see more members taking part in the course, benefitting the broader financial planning profession in Australia and those seeking advice,” Mr Sharpe said.

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David Sharpe

Speaking on the opening day of the 2024 FAAA Congress in Brisbane yesterday (Wednesday 27 November), chair David Sharpe outlined the strategic vision and priorities that will take the FAAA through to 2030.

He said the FAAA Strategy 2024-2030 was developed collaboratively with the FAAA board and management, as well as through direct feedback and engagement with members, and is deliberately ambitious.

“The Strategy maps out the vision that the FAAA aims to achieve as we approach 2030 and sets out how we intend to accomplish this.

“The environment in which we operate is rapidly changing, and professional financial planners are being challenged more than ever before. The rapid pace and uncertainty surrounding regulatory change, rising costs, falling numbers of professional financial advisers and improving public perceptions of our profession are all significant trends that we aim to address.”

He said the Strategy has three key pillars: members first; grow the profession; and lead the profession.

“First and foremost, we are a member organisation, and our role is ensuring our members,  and their careers and businesses, are successful.

“This means ensuring members are connected to valuable communities, that they are up-to-date with advances to run their businesses, and that they have access to high quality and relevant professional development and education.

“Our next pillar is to grow the profession. We continue to lose financial planners and we recognise that with numbers falling, it becomes more difficult to service the growing advice demands of Australians.

“We are working on promoting entry and career pathways to new and returning financial advisers, including promoting the profession as a career-change option and to make Australia an attractive option for skilled migration. We are already working to build the pipeline for financial advice in education and the Professional Year.

“The third pillar is leading the profession. Our members tell us that they expect the FAAA to be on the front foot, boldly and loudly speaking on their behalf and leading our profession forwards.

“A crucial goal is to one day be able to self-regulate as a profession, and we believe the first step is that by 2030, some level of co-regulation should exist.

“We’ve been too beholden to those outside our profession to govern our fate and to determine our standards  – we believe we are now ready and qualified to ultimately control our own education standards and training, code of ethics and disciplinary regime. This is a long-term process but we are committed to moving towards what other professions already have. This shouldn’t be controversial.”

Mr Sharpe said the FAAA will continue to work for and with members to achieve their goals.

“Our membership is made up of people with a range of different experiences and views, and we take our responsibility seriously of hearing what our members think and what is important to them and, where there is a clear majority, representing those interests.

“It is critical to the success of the FAAA that we meet our members needs, supporting them in their careers and their businesses while they serve their clients,” he said.

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Sarah Abood

FPSB India, a subsidiary of the Financial Planning Standards Board (FPSB), and the Financial Advice Association Australia (FAAA), have signed a memorandum of understanding (MoU) to promote cross-border mobility and professional development for CERTIFIED FINANCIAL PLANNER (CFP) aspirants and professionals.

This strategic partnership provides greater collaboration between the financial planning communities in India and Australia, allowing a seamless transition for CFP professionals, financial advisers, and students relocating between the two countries.

The MoU was signed between Krishan Mishra, CEO, FPSB India and Sarah Abood, CEO, FAAA in the presence of FPSB CEO Dante De Gori and FAAA Chair David Sharpe at São Paulo, Brazil during FPSB’s 20th year celebrations.

The two entities will jointly develop bridging educational content and partner with universities in both countries to establish pathways for certification for aspirants and subsequent professional growth. One of the key objectives is to enable CFP professionals to meet local regulatory requirements when seeking employment across borders.

Strengthening professional development and global exposure

This partnership between FPSB India and FAAA will create continuing professional development (CPD) opportunities for financial professionals in both countries. The collaboration will ensure Indian CFP professionals can access FAAA-accredited CPD programs while in India, allowing them to complete required coursework before seeking certification, or employment in Australia. Similarly, Australian CFP professionals will have the opportunity to prepare for the Indian market through local CPD programs.

Furthermore, the two organisations will work together to align certification requirements in accordance with FPSB’s cross-border certification policies. This will make it easier for Australian CFP professionals to seek certification in India, fostering professional exchange and collaboration.

This agreement also facilitates a pathway for Indian CFP aspirants to gain Australian financial planning qualifications, including units of study that meet Australian legislative standards.

Krishan Mishra, CEO of FPSB India, said: “In our continuous efforts towards globalising financial planning standards and opportunities for our aspirants and professionals, this partnership is a crucial step. By collaborating with FAAA, Australian universities and firms, we aim to equip Indian CFP professionals with international competencies while ensuring a smooth transition across borders. It opens new avenues for our financial planning community to grow and thrive in a global market.”

Facilitating employment opportunities and networking

As part of this initiative, CFP professionals and students from India will be supported in their transition to Australia through networking opportunities with Australian financial services firms, planning practices, and superannuation trustees. The MoU also facilitates the creation of professional year placements for Indian professionals, helping them build valuable experience and expand their global career prospects.

FAAA CEO, Sarah Abood, said: “This partnership with FPSB India will create pathways for financial professionals to move between Australia and India. The collaboration provides our members and aspiring professionals with opportunities to expand their expertise and gain international experience. Australia is one of the most multicultural countries in the world, with almost 30 per cent of the population born overseas. India is our second largest source of migrants (second only to England)^[1] and this initiative will also help our profession better serve this strong and growing community.

“The declining number of financial advisers in Australia is a well known and serious issue. We hope this agreement with FPSB India will lead to more advisers working with Australians to help them achieve their financial goals.”

 ———-

Notes:
[1] Australian Bureau of Statistics, 2021 census,  https://www.abs.gov.au/media-centre/media-releases/2021-census-highlights-increasing-cultural-diversity

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David Sharpe

Recognition of the value of professional financial advice has increased over the past 12 months, according to the FAAA’s Value of Advice Index^[1], with significant improvements in the wellbeing of advised Australians across all measures – both financial and non-financial.

The Index compares responses from those who do not work with a financial adviser with those who do, as well as those who work with a CERTIFIED FINANCIAL PLANNER® professional, across four key metrics – quality of life, financial confidence, financial satisfaction, and their experience with their adviser.

Over the past year, more Australians say financial advice has improved their situation in those four areas, while unadvised Australians, whose situation is largely unchanged, continue to lag in all areas.

Ahead of World Financial Planning Day on 9 October, David Sharpe CFP®, chair of the FAAA, says the results show measurable differences between those who navigate their financial journey alone and those who work with a professional financial adviser.

“It is well understood that financial wellbeing is connected with overall health and wellbeing.

“The FAAA Value of Advice Consumer Research study makes clear the link between getting quality financial advice and having better quality of life and less financial stress,” he says.

“The study was undertaken at a time when many people are experiencing cost of living pressures, from their supermarket shopping to their mortgage.  In this environment, it is fantastic to see that those who work with a financial adviser feel more financially secure and able to face current challenges,” he says.

According to the Value of Advice study, over four in five of those who use a financial adviser are confident of solving most challenges, and nine in 10 feel financially secure and that their finances are tangibly better off.

In addition, 80 per cent are less worried about money since receiving financial advice, 83 per cent feel they cope better when faced with health issues, and 49 per cent say financial advice has positively impacted their family life.

When asked how a financial adviser helped them, the top three responses were:

1. • building a realistic plan for a comfortable retirement
   • help to get the most out of a current financial situation
   • reducing financial stress and worries.

In total, 94 per cent of clients of financial advisers say they trust their adviser to act in their best interests, and 93 per cent say their advisers has helped them manage financial risks in their life.

Significantly, the improvement in the Value of Advice Index is consistent across generations, with advised Gen Y, Gen X and Baby Boomer clients all reporting better quality of life, financial confidence, and financial satisfaction, when compared to non-advised Australians.

Unsurprisingly, there are age-based differences in the way Australians want advice to be delivered. Gen Y utilises financial advice services differently than Baby Boomers and are more likely to expect digital engagement, the study found.

In addition, Gen Y are seeking education as well as advice. Those with an adviser are significantly more likely than older generations to describe the advice relationship as a form of self-improvement.

A flexible experience including a mix of digital and in-person interaction is twice as likely to be important to Gen Y than older generations, the study found.

Mr Sharpe says the study busts a number of myths about financial advice.

“We often hear that financial advice is only for the rich, but the study shows that nine in 10 clients earning $120,000 or less per year who work with financial advisers feel financially secure which is higher than unadvised consumers on the same level of income.

“Another myth is that financial advice costs more than it is worth.  But again, nine in 10 clients say the benefits outweigh the costs.

“We hope more Australians will recognise the value that financial advice can bring to them, in helping them manage their financial situation and provide peace of mind,” Mr Sharpe says.

———-

Notes:
[1] The Value of Advice Index is based on consumer research undertaken for Financial Advice Association Australia (FAAA) by independent research firm MYMAVINS. The quantitative study undertaken in August to September 2024 involved an online survey of 1,193 respondents from Australia, each of whom was over 25 years earning over $90,000 a year or holding over $50,000 in investable assets.

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David Sharpe

Early Bird pricing for the second annual Financial Advice Association Australia (FAAA) Congress will finish on 30 September.

The Congress, to be held in Brisbane from 27 to 29 November, will have the theme “Power Up” and feature a comprehensive agenda of technical workshops and specialist sessions designed for all participants in the financial planning profession.

Members can currently take advantage of an early bird price of $1,210 before the end of the month, and non-members pay $1,995.

Delegates will be able to earn up to 13 CPD hours at the event, going up to 34 hours with exclusive post-event video content.

David Sharpe, chair of the FAAA, says the event will give delegates invaluable insights into the latest developments in the profession, as well as practical ideas and tools to support them into their work with clients.

“Financial planning is an ever-changing and ever-challenging profession, and the Congress is designed to help advisers not only manage these changes, but grow and succeed with them.

“With an FAAA practitioner membership costing just $595, this means becoming a member will more than cover the difference in a ticket to Congress.

“Aside from the formal sessions, where I often find the most value is the opportunities to network with colleagues, whether that be during the breaks or around the sponsor stalls. I’ve found members are always willing to share their successes and failures. We have an amazing generosity of spirit in financial advice and Congress provides the largest opportunity each year to share with your peers from right around the country,” Mr Sharpe says.

Sessions will include:

• Regulatory, policy and advocacy update with ASIC’s Alan Kirkland and Leann King from AUSTRAC, along with the FAAA’s general manager – policy, advocacy & standards Phil Anderson, and senior manager – government relations and policy George John.
• The crucial art of scoping advice in a post DBFO world​ with Cheyenne Walker from Australian Independent Compliance Solutions​.
• Leadership Matters with Peter Baines OAM.
• Mind the Gap in Navigating Diminished Capacity with Rhett Das from Integrity Compliance, Ann Janssen from QLD Law Society, Simone O’Hara from RI Advice Moreton, and psychiatrist Angus Finlay.

In addition, the third Plenary session has been confirmed, focusing on the actions advisers can take now in advance of legislative reform to move ahead and enhance their client’s experience of financial advice.

Ahead of tranche 2 of the Delivering Better Financial Outcomes reform, including implications for the consolidation of advice documents, this session will look at how practitioners can deliver advice efficiently, compliantly, and effectively.

Speakers will include Shail Singh (Lead Ombudsman Investment & Advice, AFCA) as well as a panel of industry experts in compliance and advice, and will explore key questions such as:

• What do clients want to see in the delivery of advice and their advice documents?
• How can clients better understand the advice and how can they be empowered to take action to implement the recommended financial advice?
• How can advisers simplify their advice process and documents (i.e. SoAs that are concise, “fit for purpose” advice records)?
• What will the client file look like, and what needs to be considered to ensure the compliance elements needed for advice to be defendable are included?

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Sarah Abood

The FAAA on Wednesday 14 August met with Minister Stephen Jones to raise key concerns regarding the Compensation Scheme of Last Resort.

During the meeting, FAAA’s CEO Sarah Abood and chair David Sharpe raised a number of issues including the total cost of the scheme, and whether it is operating as a true last resort.

“We have told the minister that although we support the scheme, the funding model is completely unsustainable. The financial advice profession does not have the capacity to pay compensation to the clients of large listed entities which have done the wrong thing, and nor should we. We are looking at losses approaching $135 million for Dixon Advisory alone, with nothing in place to stop similar situations happening in the future,” Ms Abood said.

“We believe the Minister has clearly heard these concerns and is genuine in his intent to work with us to ensure that the CSLR achieves the goal that we all support.

“He has advised us that the FAAA will have the opportunity to work with Treasury to outline unintended consequences of the CSLR and listen to pragmatic and feasible solutions.

“We have also called on the government to pursue a public inquiry into what really happened at Dixon Advisory. With potential losses approaching $400 million, there is a clear public interest in understanding what has happened and how similar situations can be prevented in future.”

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