This journey towards professionalism has been a struggle for many years – even including my own term as Chairman of the FPA in the year 2000.

Perhaps the words of outgoing FPA Chairman Matthew Rowe summed up this journey and the sentiment best when he said: “Parliament cannot legislate for greatness”. I heartily agree. Yes, the FoFA politics might create an air of uncertainty for consumers reading about it and the political fallout in their news feeds in coming days but there is nothing new in that. Professional planners and their clients will continue to get the job done while the news headlines ricochet across all news media over the coming weeks and months.

In November 1999, as the incoming FPA Chairman, I addressed the closing session of the FPA Congress. In my speech, I spoke about how the only asset any of us have is the trust that our present and future clients place in us. The number of clients and the level of funds under management accounts for nothing if our clients lose trust in us as their professional adviser. Without trust – ultimately – there are no clients and no assets to manage.

In the late 90s we were in the midst of the Corporate Law Economic Reform Program (CLERP) from which the Financial Services Reform Act eventually emerged in 2001. However, like today, back then it was abundantly evident that no amount of legislation would improve the image of financial planning and financial advisers unless there was substantial cultural change from all participants – licensees, advisers, product manufacturers and professional bodies.

Cultural leadership

Cultural change requires leadership. Leadership which engenders a belief from within organisations that such change ultimately brings rewards to all stakeholders. At a time when volumes of regulation over almost three decades have failed to address one of the fundamental weaknesses in financial planning – the outrageous inadequacies of Regulatory Guideline 146 – it is the FPA and its members which has led the way in changing the culture of Australian financial planning. In stark contrast to the failure of all that legislation to bring about rudimentary change, the banning of commissions by FPA was well ahead of FOFA; the requirement for, relevant, undergraduate degrees for applicants to the CFP Program is light years ahead of RG146 and the vote by members to disband the Principal Member category several years ago was a decision which clearly marked a change of culture at the peak body.

All these achievements notwithstanding, however, it is the clients who are the ultimate arbiters of value and what’s important in what their advisers do for them. It is their experience of us as advisers and our own pursuit of personal greatness that matters most here. For them, the politics played out in Canberra over financial advice reform probably means very little, perhaps nothing.

Doing it

I wheeled into the Adelaide Congress on a bicycle this year. It was my personal effort to show the giving side of our profession via the Future2 Foundation and its financial support of numerous community based organisations across the nation which give young Australians a second chance at a good start to life. Under the auspices of the Future2 Foundation, the foundation of the Financial Planning Association of Australia, we raised around $120,000 with the ride.

Over seven days I had ridden 1,050 kilometres from Melbourne to Adelaide alongside some 25 other riders and as we rode into the welcome reception at the FPA Congress, we were greeted by an atmosphere of mutual respect and calm confidence amongst the 1500 or so advisers who had gathered in Adelaide this year. I was struck by how different the mood of the Congress was, and that there appeared to be a growing resilience amongst our colleagues to take the outside FoFA machinations in their stride. It was clear that

Greatness is often about what you do, not say.

I witnessed lots of positive ‘doing’ on the road to Adelaide and in the halls of the Congress – all of which gives me great heart that we are finally on our way to being a respected profession. No one made 25 people ride their bikes from Melbourne to Adelaide and no one made all those committed professionals attend FPA Congress 2014. They did it because it was the right thing to do.

If the 2014 FPA Congress is any guide, then our profession is set firmly on a path of future greatness.

 – Ray Griffin, Director, AdviserVoice

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The FPA Awards revealed next week.

The winners of the prestigious 2014 Financial Planning Association of Australia (FPA) Awards have now been chosen and will be revealed next week at the FPA Professionals Congress on the 19^th – 21^st of November in Adelaide.

According to Mark Rantall, FPA CEO, the awards are more relevant than ever given recent events in the industry. In particular, he pointed to the debate around professional and education standards, which has picked up serious momentum over the course of the year, saying the FPA Awards acknowledge those planners who show true professional leadership.

“We’ve been on a journey as a profession and we’ve recently achieved some major milestones, including a commitment by the major players in our industry to raise standards in order to secure the trust of Australians. Against this backdrop, we are thrilled to be able to reward those planners whohave consistently gone above and beyond to deliver great results for their clients; have contributed to the profession through community involvement; and have mentored and supported their local FPA member base,” Mr Rantall said.

FPA CERTIFIED FINANCIAL PLANNER^® Professional of the Year Award

One of the key FPA Awards is the CERTIFIED FINANCIAL PLANNER^® (CFP^®) Professional of the Year Award, which recognises CFP^® professionals who have demonstrated the highest professional standards embodied by an FPA member. Lisa Weissel, CFP^® and Senior Financial Adviser at Evergreen Wealth Professionals, is one of the judges of the CERTIFIED FINANCIAL PLANNER^®Professional of the Year Award. Ms Weissel said she was impressed by the high calibre of the award entries this year and said this is a reflection of the increased focus of the profession on lifting the standards of advice.

“The candidates for the CFP^® award demonstrated the great work they are doing to provide clear advice that their clients can easily understand and apply in order to reach their goals. Many of these planners have strong frameworks for engaging and communicating with clients, which in turn help deliver the best outcomes. This is a mark of excellence in our profession.”

FPA Financial Planner AFP^® of the Year Award

The Financial Planner AFP^® of the Year Award recognises AFP^® members of the FPA who have demonstrated the highest professional standards.

Rob Pyne, CFP^® and Director at HPH Solutions, is one of the judges of the Financial Planner AFP^®of the Year Award and a previous winner of an FPA Award. Mr Pyne commented on the number of high quality award entries this year and spoke of the benefits of winning the award in 2012.

“The quality of work as evidenced by the applications was excellent. From my experience, the benefits of winning an FPA Award were visible both personally and professionally. Having an award from the leading professional organisation gives you credibility by virtue of that award and this is more important now than ever.”

Future2 Community Service Award

The Future2 Community Service Award recognises FPA members who have made an outstanding contribution to the wider community.
Steve Helmich, Director of Advice and Client Solutions at AMP, is one of the judges of the Future2 Community Service Award. Mr Helmich said: “There were some outstanding candidates this yearthat are committed to improving the circumstances of the most socially excluded and financially disadvantaged members of the community. All Australians deserve access to trusted advice, and this award is testament to how financial planners can make a real difference to the wider community.”

Lisa Weissel, Rob Pyne and Steve Helmich are three of the nine highly credentialed members of the financial planning community who judged the FPA Awards this year.

The FPA Awards will be presented during the FPA Professionals Congress in Adelaide on 19th – 21st of November. For more information on the awards, visit http://fpa.asn.au/awards/

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Some of the 2013 Future2 Wheel Classic cyclists.

The 2014 Future2 Wheel Classic – the annual long-distance cycling event that is now an established part of the foundation’s fundraising calendar – will follow a new route from Melbourne to Adelaide between 13-19 November.

The cyclists will ride into Adelaide to a reception on the eve of the Financial Planning Association’s Professionals Congress.

Expressions of interest are being made by financial planners from around Australia, keen to test their mettle on the 900-plus km ride over seven days. Online registrations will open in March for both the Future2 Wheel Classic and the Virtual Wheel Classic, which allows cyclists who can’t ride in November to ‘shadow’ the event while on training rides or in the gym.

The money raised will bring new opportunity and hope to disadvantaged young Australians through Future2’s Make the Difference! Grants. The grants are made to community not-for-profits following applications that have the support of a local member of the Financial Planning Association. The Wheel Classic events have raised a total of over $420,000 since its inception in 2010.

Future2 trustee and creator of the Wheel Classic Ray Griffin welcomed a shorter and less arduous route for this year’s ride, hoping it will encourage even more participation among financial planners. “The routes we followed in the first four years (Bourke to Sydney in 2010 and 2011, Sydney to Melbourne in 2012 and Melbourne to Sydney in 2013) involved 1250 km of cycling for nine days over challenging terrain. This year, we’ll ride around 1,000 km in a southerly sweep through Victoria and South Australia, with modest elevations. It’s still a challenge but one that we believe will have wide appeal.”

Matthew Rowe, Financial Planning Association (FPA) Chair and Future2 trustee, welcomed the prospect of the cyclists’ arrival in Adelaide on the eve of the FPA Professionals Congress. “The Wheel Classic is all about financial planning professionals giving back to the community through their participation in the ride, just as they do every day through the quality financial advice they provide to clients. These dedicated financial planners are doing something they love while also helping to make better lives for young people who are in need and at risk. That’s a great result all round and the FPA commends our members who have committed to join in.”

“At Congress, hundreds of financial planning professionals will laud the achievement of the Wheel Classic riders and hear the stories of some of the young people whose lives have been changed with a little help from Future2”, he said.

Early expressions of interest in the Wheel Classic and Virtual Wheel Classic can be made by email to: info@future2foundation.org.au. The day by day route will be announced in early March.

Click here to view highlights of the 2013 Future2 Wheel Classic.

The FPA Professionals Congress 2014 will take place in Adelaide on 20-21 November.

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FPA members came together in 2013.

There is an African proverb, popularised by US politician Hilary Clinton, which says it takes a whole village to raise a child.

Which is an appropriate way to think about how the influence of many can contribute to making a positive impact on the life of one.

In the context of professional financial planning and its journey to adulthood, a similar dynamic is at play.

In other words, a whole village of supporters – a community – has emerged during 2013 to make a positive and enduring impact to a single cause: professionalism.

We’ve had a fair share of setbacks and challenges. And it is true that 2013 was a year for enormous legislative and technical change. We’ve seen reams of legislative paperwork come at us – the commencement of FoFA; a new Coalition government and the TASA initiatives to name a few.

But out of this challenging environment has emerged a renewal of one of the core ingredients that has marked the Financial Planning Association since its inception over two decades ago. And that is the power of collegiate community.

What does this mean? In reality it means volunteers giving up their time to support a worthwhile endeavour. Activating their support, reaching out, offering guidance, time, intellectual property and a duty of care.

In broader terms it means members of our community adhering to a higher-level purpose for the benefit of others. This can manifest in various ways: committee and chapter participation, pro bono efforts, or simply just ‘turning up’ to contribute to the overall carriage of a common goal.

Want proof of this remarkable grass roots movement? The following small list is a reminder (and a note of congratulations) to those who ‘formed a village’ in 2013 to help raise and nurture the fledgling child of professional financial planning in Australia and which has led by example for the rest of the world.

Financial Planning Week

The 13^th annual Financial Planning Week was run during the last week of August 2013 and helped to fundamentally drive home the access and need for quality financial advice amongst Australian consumers.

A major part of this consumer awareness campaign was the ever- popular ‘Ask an Expert’ online service. This enabled members of the public to post questions regarding their finances, on any topic from debt to investments, superannuation to tax.

A volunteer panel of over 70 FPA practitioner members fielded the questions, posted online for the public to view.

Each and every FPA member who volunteered their time to provide free advice to the public should be congratulated for this outstanding effort. There was zero business or commercial incentive involved – simply a shared desire to help make a difference to the lives of others!

Professionals Congress

October 2013 will be remembered as a turning point for the profession. Sydney played host to over 1000 members of a professional community joining together to inaugurate something very different. It was called ‘Your Inaugural Professionals Congress’.  Delegates expressed a genuine feeling of ‘togetherness’ and a tremendous sense of pride in our profession.  There was a real willingness to share ideas and best practice thinking. And it was a wonderful opportunity to celebrate a shared future, aligned under the common goal to change client’s lives for the better.

The Congress also encouraged a new confidence that financial planning is kicking goals, pulling together and looking to a bright future. A truly professional community.

Best Practice Awards

Want evidence that what financial planners do changes clients’ lives for the better? Look no further than the outstanding submissions to the 2013 FPA Best Practice Awards.

It was quite evident that FPA members embody a higher purpose ideal and, through their professionalism and expert advice, really do make a difference.

Whether through helping a client suffering illness battle their way through a health insurance claim, or enabling a client who wants financial freedom to leave their well-paying, steady job to pursue their passion, the result is the same – an improvement in wellbeing and increased ‘comfort factor’ and happiness.

This is what is important here and a monetary value cannot be placed on it.

Anyone who visits the Sydney office of the FPA will see on the reception wall a piece of artwork. On it are printed (in very fine print as there are 10,000) the names of every member of the FPA ‘village’. Alongside this are the words: “Helping our members change client’s lives for the better.”  It takes a village to raise a child. Congratulations to all who stepped forward in 2013 to offer their contribution.

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More than 1,000 delegates heading to the FPA Professionals Congress.

Registrations for the Financial Planning Association’s (FPA) Inaugural Professionals Congress closed last Friday with over 1,000 delegates set to attend the new look event.

Following a period of significant change within the financial planning profession, next week’s Congress is designed to deliver education and self-development opportunities to both FPA members and non-members, providing them with more tools with which to change client’s lives for the better.

Built by practitioners for practitioners, the Congress program offers sessions covering Technical, Best Practice, Personal Development and Leadership, helping planners to build their business, further their self-development and ultimately, be in a better position to service their clients.

Mark Rantall, CEO of the FPA said: “The past year has been a turbulent one for the profession – from the implementation of FoFA, the Tax Agent Services Act and the change of government. Next week’s Congress is an opportunity to bring the focus back to our community of financial planners and aligned professionals, marking our collective achievements and preparing for the challenges that lay ahead”.

“We’ve tailored the Workshop streams to meet what planners everywhere say are their most pressing practical needs. There is the deep educational focus that one would expect from such an event, but the sessions also deliver a focus on personal and business developments skills – framed against delivering a valuable service proposition to the client”.

“The most subscribed sessions at Congress indicate what we have been hearing this past year from the planner community. For example, time management is a persistent issue that planners face in their day-to-day and unsurprisingly, this session has proven to be a sell-out. We are pleased that workshop registrations strongly indicate that delegate needs are being met.”

Other highly popular sessions include:

The Professionals Congress will also hear from many FPA members and CERTIFIED FINANCIAL PLANNER^® Practitioners who will conduct panel sessions on tax planning; FoFA, insurance and client acquisition – providing delegates with a great opportunity to learn from their colleagues. For example, one of the booked-out sessions will feature members sharing tips with one another on ‘Minimizing tax, maximizing opportunity’ (Technical Stream).

Mr Rantall continued, “It’s exciting to see that we will have twice as many delegates than at our last conference in 2011 and I am hugely proud of the work that has gone into this event. This is a Congress for planners; it is about supporting the profession through this period of change and building for the future so that more Australians have access to the highest quality advice”.

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Deborah Thomas

With the inaugural Financial Planning Association (FPA) Professionals Congress around the corner, the FPA has announced details of its Women in Finance Breakfast, featuring some of the leading female financial planners in the profession and high-profile magazine editor and business success story, Deborah Thomas.

Research has shown that the FPA has a higher representation of female members at 23%, compared with 18% in other associations (in aggregate) as a result of initiatives supporting the growth of women in financial planning¹.

CEO of the FPA, Mark Rantall said: “Female financial planners represented 32% of our new membership this year and while it is positive to see that the female representation is growing each year, these numbers are not satisfactory and much needs to be done to close the gap between genders in financial planning, and the wider financial services. The FPA community hopes to see more women join the profession in the future and we continue to work hard to build initiatives that encourage Australians across all demographics to become CERTIFIED FINANCIAL PLANNERS®. In order for Australians from all walks of life to receive appropriate advice, there needs to be equal representation across genders and all demographics.”

“The FPA Professionals Congress program has been developed to provide support and information to members in all aspects of providing advice. The Women in Finance breakfast is one way we aim to support our female community of planners in their careers. The FPA is excited to host a number of successful female financial planners with Deborah Thomas featured as the guest speaker. Deborah Thomas is a shining example of someone that has consistently excelled in their field and we expect attendees will be inspired by her remarkable achievements.”

Ms. Thomas is one of Australia’s most successful magazine editors, having edited some of the most popular women’s titles for 20 years before moving to a corporate role at one of Australia’s top publishing houses, ACP Magazines.

“I believe all women should understand and take control of their financial future; it is the key to independence. I look forward to sharing my story with 200 women who help make this happen,” Thomas said ahead of her presentation.

The Women in Finance breakfast will take place on Friday 18 October at 7:30am as part of the Professionals Congress. As well as listening to Deborah Thomas speak, attendees are invited to network with some of the industry’s leading female financial planners and discuss challenges faced by women in the industry.

Registrations to the FPA’s Professionals Congress (17-18 October) are now open, and current planners, international leaders and the planners of the future are welcomed to register. The Professionals Congress is focused on the purpose and influence of financial planners and the passion that the FPA community has to make a difference to people’s lives – by helping clients plan and manage their financial health and future.

Click here for more information or to register for the Professionals Congress.

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¹ Investment Trends FPA Professional Dividend Report September 2012

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FPA to host international speakers for congress.

International leaders will address attendees at the Financial Planning Association’s (FPA) inaugural Professionals Congress (17-18 October) this year.

Mark Rantall, CEO of the FPA, will be joined by a distinguished panel of international and local financial planning professionals in a Leadership Panel at the FPA event. Panellists include ASIC Deputy Chair Peter Kell, FPSB Chair Steve Helmich, FPSB USA CEO Noel Maye and FPSB UK Director Barry Horner.

The international leaders are addressing the professional community ahead of the Financial Planning Standards Board (FPSB) meeting that will take place in Australia for the first time.

Mark Rantall, CEO of the FPA said: “The FPA Professionals Congress is an occasion not only to celebrate the largest community of financial planners in Australia but also the broader global community to which we all belong. It is an invaluable opportunity for Australian financial planners to share our successes and to learn from the insights and developments in our profession overseas.

“Our profession has been through a period of tremendous change in recent years and has made significant strides in advancing the global standing of the profession. In designing the program for the Professionals Congress we aim to equip our members with the tools to continue this journey of professionalism – and that includes bringing them some of the best global leaders who share this goal.

“The FPA is looking forward to hosting international leaders at our Professional Congress and the Financial Planning Standards Board in Australia this year. Our involvement in the global meeting provides our members with insight and also reminds us of the great work we have done towards achieving our professional status.”

Registrations for the Professionals Congress to date are more than double the amount seen at the FPA’s 2011 conference.

The Congress program has been developed to provide support and information to members in all aspects of providing advice, with streams covering Technical, Best Practice, Personal Development and Leadership. Some of the specific topics will include: Estate planning strategy, building sustainable leadership, practice valuations post-FoFA and consumer sales and marketing, among others.

Rantall said: “We are heartened by the strong response we’ve seen so far from members as it signals that the program has done what it set out to, which is position our members with the guidance and information they most need in their businesses.”

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The Congress will be held at the Sydney Convention Centre on the 17th and 18th of October 2013.

Attendees will enjoy a revitalised format that builds on the previous National Conference program, offering unique opportunities to share best practice with other practitioners, learn from the leaders in the profession and gain fresh insights from local and international educators.

Mark Rantall, CEO of the FPA, said:

“Our Professionals Congress represents the distillation of the considerable learning and member feedback we’ve gathered over recent years at our annual National Conferences. These have been highly valued by members but we’re also aware that we need to constantly improve, bring more value and provide new avenues for development for our members. The new format is designed to really hone in on both timely issues and the enduring topics affecting our profession.

“What it comes down to is that continuous education and critical thinking is necessary for all financial planners to improve and continue to provide clients with professional advice. This is especially the case when the world is changing so rapidly. The FPA Professionals Congress will be a premium event that uses many of the latest advances in technology and thinking to truly articulate and bring to life the essence of what it means to be a professional financial planner.”

The format and program for this event is being shaped in close consultation with FPA member committees.

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