Chosen from a competitive field of 129 applications from every state and territory, the nine organisations selected are: Common Ground, Ember Connect, Global Sisters, Prison Network, Protea Place, SisterWorks, Stepping Stone Social Enterprise, The Social Outfit and WomenCAN Australia.

These partners all support women most impacted by economic inequality – including rural and regional women, incarcerated women, First Nations women, migrant and refugee women, single mothers and women with disability – to access meaningful and sustainable work.

Caroline Gurney, CEO of Future Generation, said: “Gender inequality is holding our country back. Our new partners are doing vital work to help some of Australia’s most vulnerable women build the foundations for economic independence and security. We are delighted to welcome them into the Future Generation family.”

FGW has also announced three new members to its Advisory Committee – Georgina Byron AM, CEO of the Snow Foundation, Carol Schwartz AO, one of Australia’s leading business and community leaders, and Serena Grant, Director of Business and Human Rights at Minderoo Foundation. They bring deep expertise in gender equity, investing in women entrepreneurship, and social impact. They will be joining existing Advisory members, Elana Rubin AM, Natasha Stott Despoja AO, Marianne Perkovic and Elizabeth Lewin.

Geoff Wilson AO, Founder of Future Generation, said: “Securing advisers of Georgina, Carol, and Serena’s calibre is a significant milestone for Future Generation Women. It underscores the strength of the Future Generation model, which allows investors to access leading fund managers and earn solid investment returns, while simultaneously supporting good causes.”

Backed by Andrew and Nicola Forrest’s Minderoo Foundation, FGW is managed entirely by women portfolio managers, who waive all management and performance fees so that 1% of the fund’s assets can be donated to charity each year. The unlisted trust builds on the proven Future Generation model, which has to date donated $100 million to social causes while still delivering investment returns to its 15,000 shareholders.

Emily Fuller, Future Generation’s Social Impact Director, said: “Supporting women to access work – especially those women facing the toughest structural barriers – is one of the critical drivers of closing the economic gap between genders. In future funding rounds, FGW will focus on the other levers, which are building financial capability among women and girls and dismantling the harmful gender norms that are known to underpin the persisting gender gaps in Australia.”

FGW will work with its new partners on a shared measurement framework to track both individual outcomes and collective progress across the portfolio.

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Marianne Perkovic

Future2 has awarded over $115,000 in grants to community not-for-profits with programs for socially and financially disadvantaged young Australians.

Making the announcement at the Future2 Gala Dinner at the Financial Planning Association of Australia (FPA) Professionals Congress in Brisbane tonight, Future2 director / trustee Marianne Perkovic said the increase in annual Future2 Make the Difference! Grants is the result of generosity of financial planning professionals and many others connected with the profession.

“Last year, FPA members and friends contributed to a substantial increase in funds raised, enabling the Future2 board to increase grant funding by over 50%. With your continuing support, we will fulfil Future2’s vision to be the heart of financial advice profession, bringing new hope and confidence to thousands of young people who deserve a better chance in life”, Ms Perkovic said.

Make the Difference! Grants were first awarded in 2007, the year of the Foundation’s establishment. The opening of the new grant round each year is now eagerly awaited by hundreds of not-for-profits in Australia. This year 140 applications for funding were received, each one was endorsed by a local financial planner – a measure of their engagement with the communities in which they live and work.

The grants are awarded in two categories: single year grants of up to $10,000 and multi-year grants of up to $30,000 over 3 years. See table.

Future2 Make the Difference! Grants fund projects that give hope for a better future to 12-25 year olds who may be financially disadvantaged, homeless, juvenile justice offenders, drug or alcohol dependent, disabled, or disadvantaged in some other respect.

Funded projects have been in the areas of financial literacy, skills training, work experience, community service and mentoring.

Since Future2 was established in 2007, the foundation has granted over $500,000 to 37 organisations across Australia.

2015 Future2 Make the Difference! Grants

• Albury Wodonga Volunteer Resource Bureau (Albury Lavington NSW), for the ‘Future2 Transfer’ program, endorsed by Ian Clark CFP® – $10,000
• BackTrack Youth Works (Armidale NSW), Agricultural work experience for young women aged 18-25, endorsed by Matt Meehan CFP® – $10,000 (2nd year of $30,000 grant 2014-16)
• Bridge Builders Youth Organisation (Lilydale VIC), for leadership education and skills training for 12-25 year olds, endorsed by Craig Ralph CFP® – $10,000 (2nd year of $30,000 grant 2014-16)
• The Esther Foundation (Como WA), for the Positive Pathways Program, endorsed by Randall Stout CFP® – $10,000 (lst year of $30,000 grant 2015-17)
• Launceston City Mission (Launceston TAS), for the Get Smart – smart recovery program, endorsed by David Gibson CFP® – $8,333 (1st year of $25,000 grant 2015-17)
• National Joblink (Cairns QLD), for ghe NJL Youth Employment Program, endorsed by Danny Maher CFP® – $9,000
• National Joblink (Darwin NT), for the NJL Next Step Program, endorsed by Susie Erratt CFP® -$10,000
• Palngun Wurnangat Association (Wadeye NT), for the Widening Horizons – work experience program, endorsed by Kathy Havers CFP® – $10,000 (2nd year of $30,000 grant 2014-16)
• Women’s Health and Family Services (Northbridge WA), for Education and empowerment for young women in crisis, endorsed by Kelly-Louise Pillay CFP® -$10,000 (2nd year of $30,000 grant 2014-16)
• Youth Connect (Moorabbin VIC) for Wheelly Good Coffee – training and employment, endorsed by Hari Maragos CFP® – $8,000
• Youth Futures (Perth WA) for The NEST, endorsed by Antony Black AFP® – $10,000 (1st year of $25,000 grant 2015-17)
• Youth Opportunities (North Adelaide SA) for Empowering Disadvantaged Youth, endorsed by Eddie Bell AFP® – $10,000 (1st year of $25,000 grant 2015-17)

About the 2015 grant recipients

Albury Wodonga Volunteer Resource Bureau Inc, Albury, NSW

$10,000 grant for the Future2 Transfer program. Application supported by Ian Clark CFP®
The Future2 grant will assist recently arrived young migrants and refugees to improve their English skills, gain access to education and training opportunities and be prepared for the workforce.
The Esther Foundation, South Perth, WA
$30,000 grant, 2015-17 for the Positive Pathway program. Application supported by Randall Stout CFP®
Young women in crisis will receive mentoring and practical experience in the Esther Café so that they can develop the skills they need to find work and establish independent lives.

Launceston City Mission Inc., Launceston, Tasmania

$25,000 grant 2015-17 for the SMART Recovery program. Application supported by David Gibson CFP®
This cognitive behavior therapy (CBT) based program will help young people with addictive behaviours to understand, manage, and change their irrational thoughts and actions, with the help of professionals, peers and mentors to keep them involved and motivated.

National Joblink, Darwin NT

$10,000 grant for the Next Step program. Application supported by Susie Erratt CFP®
The program develops the skills and knowledge of young people aged 18-25 years who are undertaking alcohol and drug programs at Banyan House in Darwin. The focus is on training and development of skills that will help them gain employment.

National Joblink, Cairns, QLD

$9,000 grant for the Youth Employment program. Application supported by Danny Maher CFP®
Unemployed youth who are vulnerable, socially isolated or living in dysfunctional family situations are helped to develop skills to enable them to secure employment.

Youth Connect, Moorabbin VIC

$8,000 grant for the Wheelly Good Coffee program (WGCP). Application supported by Hari Maragos CFP®
Youth Connnect works with young people under 25 years who are at risk of not making a successful transition from school to further study or employment. The program helps them secure jobs through accredited and non-accredited training, exploration of career pathways and local work opportunities.

Youth Futures, Joondalup WA

$30,000 grant 2015-17 for the NEST program. Application supported by Antony Black AFP®
The NEST gives practical and emotional support to vulnerable teenagers who are juggling motherhood with other difficult financial and social circumstances. Fifty teenage mothers and 50 children are given the opportunity and skills to live independently.

Youth Opportunities, Somerton Park SA

$30,000 grant 2015-17. Application supported by Eddie Bell AFP®
The Youth Opportunities Personal Leadership Program will build the confidence and skills of 54 Year 10 students at Craigmore High School, in northern Adelaide, one of Australia’s most disadvantaged regions and an unemployment hotspot.

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Marianne Perkovic

Commonwealth Bank has announced new minimum education standards for Commonwealth Financial Planning Limited (CFP) financial planners, supervisors and managers of planners.

Since 2011 the Bank has transformed the CFP business. There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training. These new standards are an important step in increasing the educational and professional standards of our financial planners, and exceed current industry requirements.

The new education standards include:

• All new CFP financial planners, recruited from today, must hold a degree in finance, business, commerce or a related field;
• All new CFP direct supervisors or managers, recruited from today, must hold a degree in finance, business, commerce or a related field;
• Existing financial planners authorised under the CFP licence and their supervisors will be required to hold either an Advanced Diploma in Financial Planning (or equivalent) or a degree in finance, business, commerce or a related field by 30 June 2017;
• Existing Senior Financial Planners will be required to obtain the CERTIFIED FINANCIAL PLANNER® certification with the Financial Planning Association of Australia; and
• CFP commits to making membership of a relevant financial services industry association a minimum standard required of all CFP financial planners by 30 June 2015.

Executive General Manager Advice, Marianne Perkovic said both the Interim Report of the Financial System Inquiry and the Final Report of the Senate Economics Committee inquiry into ASIC concluded that educational levels across the industry need to be enhanced. Last Friday’s announcement is an important and proactive step to meeting the standards envisaged by those reports.

“The relationship between a financial planner and their customers must be based on trust. The significant transformation in this business since 2011 has been all about building that trust. This is an important next step that continues our investment in the professionalism of the advice industry.”

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Marianne Perkovic, Executive General Manager Advice at Commonwealth Bank, was unanimously endorsed as a Future2 director/trustee at a recent board meeting, for a three year term.

Future2 Chair Steve Helmich warmly welcomed Ms Perkovic to the board. “Marianne is one of the most outstanding women in Australian financial services. We have no doubt that our board will benefit hugely from her contribution, drawn on a long and distinguished career.

“As Future2 works towards greater engagement by financial planners in their profession’s charitable foundation, Marianne’s enormous breadth of experience in the advice sector will be invaluable to us”, he added.

Ms Perkovic has twenty years’ experience in financial services. She joined the Commonwealth Bank Group in 2010 as General Manager of Distribution at Colonial First State and was promoted to Executive General Manager CBA Wealth Management in 2012. Prior to joining CBA she was with Count Financial Limited for more than 11 years, being appointed CEO and MD in 2006. That appointment made her the youngest female CEO of an ASX listed company. Marianne holds directorships across a number of CBA’s subsidiary boards.

On her appointment Perkovic said, “I am very passionate about the important role that advice and the industry play in helping people achieve their goals and provide them with more life choices. I feel privileged to have been asked to join the board and look forward to continuing the great work Future2 is doing,” she added.

The Future2 board now numbers 9 directors/trustees, including three who are nominated by the board of the Financial Planning Association.

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