• Dr Rebecca Shiels joins panel
• More rigour around best practice benchmarking
• Award enters its 9^th year

Leading researcher Dr Rebecca Shiels, Director of Research at Beaton Research and Consulting, has been appointed to the judging panel for the prestigious Association of Financial Advisers (AFA) Adviser of the Year Award.

Chairman of the Judging Panel and AFA President, Brad Fox said, “We are delighted to have Rebecca join our panel. The fact that we were able to attract such a respected industry figure to become a judge speaks volumes about the growing stature of the Adviser of the Year award across our industry.”

Dr Shiels is the Director of Research and Head of Financial Services at Beaton Research and Consulting. She holds a PhD in psychology and has 15 years research experience across a range of industries with financial services being her current focus. Her principal area of expertise lies in business-to-business and services sector research.

In the insurance market, Dr Shiels has worked closely with the major life insurance providers in Australia and New Zealand, measuring satisfaction among advisers, developing market segmentation and, more recently launching a quarterly omnibus survey of advisers in Australia, to keep abreast of topical issues in the market. As such, Dr Shiels has a ‘birds eye view’ of best practice drivers amongst advisers.

“The growing reputation of this award is built on the breadth and rigour of the award judging process,” said Colin Morgan, Chief Executive of award sponsor Zurich Life & Investments.

“We feel Rebecca’s unique perspective on the evolution of best practice across the industry will add an extra dimension to this process, which already includes telephone interviews, onsite practice evaluation, client feedback and a finalist presentation to the full judging panel,” he said.

“As one of the last remaining independent insurers, Zurich has a longstanding commitment to championing advisers and our sponsorship of the premier industry award since its inception in 2003 is a powerful reflection of that commitment.”

The judging panel also comprises AFA Chief Executive Officer  Richard Klipin, Graham Peatey (The Encore Group), Peter Sobels (Riskinfo), and Philip Kewin and Marc Fabris (both Zurich).

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FPA members have made an historic vote to usher in a new era of professionalism,overwhelmingly endorsing plans to adopt true professional status.
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“This is an important day for the FPA and for the financial planning profession. Today our members have voted for transformational change to create a peak financial planning representative body with the highest professional standards,” FPA Chairman Matthew Rowe said.
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Today’s Extraordinary General Meeting held in Melbourne, delivered over 94 per cent of votes in favour of a new three-year strategic plan that aims to elevate financial planning as a universally respected profession. To be passed, the proposition required 75 per cent of voting members to vote ‘yes’. The resounding yes vote hands the FPA a mandate to aggressively pursue its vision of a truly professional association for members and in the interest of all Australians who entrust their financial future to a CFP qualified member of the FPA.

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“This is the long-awaited beginning for our members to rebuild trust in their community that professional financial planners take utmost responsibility for delivering on a core promise of professional and ethical behaviour,” said Mr Rowe.

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“This requires all FPA members to not only act in the public interest, but be seen to do so. It also means we as a professional body will set upward education requirements, endorse higher standards and adhere to a strict code of professional practice.

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“The FPA will also remove the principal membership category with only individual planning professionals having the right to vote going forward with 87 per cent of principal members voting in favour of the proposed changes.

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“The Board and executive has received great support from both principals and members during an extensive consultation process, and evidence of this is seen in the overwhelming support achieved for the vote,” Mr Rowe said. 

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The new FPA will be supported with a $15 million brand and advertising campaign over five years to position FPA members as trusted professionals. The changes will be introduced from 1 July, for the 2011-2012 membership year with the national consumer advertising campaign to start in second half of 2011.

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“We’re excited about the opportunity to promote both the benefits of financial planning to the wider community and the advantages of seeking an FPA member when seeking advice,” FPA CEO Mark Rantall said.

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“Financial planners face a fluid regulatory environment and increasing attention from both government and consumers.

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This new strategic direction will provide financial planners a consistent voice and build the reputation of the profession as a whole,” Mr Rantall said.

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