Dante De Gori

The Financial Planning Association of Australia’s (FPA) independent disciplinary body, the Conduct Review Commission (CRC), has imposed $50,000 in fines plus costs on Sam Henderson for the nine proven breaches of the FPA’s Code of Professional Practice.

No appeal was made by Mr Henderson.

Sam Henderson is no longer a member of the FPA. The published case determination is available on the FPA website.

Dante De Gori CFP®, CEO of the FPA says, “Professional financial advice is about helping people at all stages of life, work towards their individual goals. Each client’s circumstances, needs, goals and priorities are different.

“The FPA Code requires members to put their client’s interests first. The CRC has ruled that Sam Henderson did not place his client’s interest first or provide professional service objectively, and imposed sanctions accordingly.

“Consumers actively search for FPA members when looking for financial advice because of the higher standards the FPA requires of them. The FPA is committed to standing with Australians for a better financial future and enforcement of the FPA Code is an important aspect of that commitment,” said Mr De Gori.

The CRC is an independent body established to ensure FPA members are held accountable to the FPA Code. The CRC plays a vital role in regulating the conduct of FPA members and upholding the highest ethical standards within the financial planning profession.

The CRC panel, which hears FPA disciplinary matters, is made up of experienced members of the financial planning profession. It is currently chaired by a former presidential member of the Australian Administrative Appeals Tribunal (AAT).

The FPA encourages all members to read past CRC determinations, and map their advice process to the FPA Code of Professional Practice to ensure they are aligned with the standards expected of them by the profession, and public.

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The CRC found that nine out of the ten alleged breaches of the FPA Code were proven. Information in relation to sanctions will be released in due course.

Dante De Gori CFP®, CEO of the FPA says “FPA members are required to uphold the highest ethical standards within the financial planning profession. Mr Henderson failed to meet those standards.

“Consumers actively seek out FPA members when looking for financial advice because of the higher standards the FPA requires. The FPA is committed to standing with Australians for a better financial future and enforcement of the FPA Code is an important aspect of that commitment.”

The Conduct Review Commission is an independent body established to ensure FPA members are held accountable to the FPA Code. The CRC plays a vital role in regulating the conduct of FPA members and upholding the highest ethical standards within the financial planning profession.

The CRC panel, which hears FPA disciplinary matters, is made up of experienced members of the financial planning profession and is currently chaired by a former presidential member of the Australian Administrative Appeals Tribunal (AAT).

FPA members are encouraged to read the CRC Determinations to understand how the FPA Code should be applied in day-to-day practice.

The FPA encourages all members to map their advice process to the FPA Code of Professional Practice to ensure they are meeting the standards expected of them.

The published Determination in the Sam Henderson case is available on the FPA website.

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Darren Johns

The Association of Financial Advisers (AFA) and Zurich are pleased to announce that Darren Johns from Align Financial is the 2016 AFA Adviser of the Year, and Henderson Maxwell is the 2016 AFA Practice of the Year.

AFA CEO Brad Fox said both Mr Johns of Align Financial in Narrabeen NSW, and Henderson Maxwell from Sydney, are outstanding examples of the high caliber and professionalism of AFA award winners.

“The judging process for the AFA Adviser of the Year and the AFA Practice of the Year Awards is deliberately rigorous,” Mr Fox said. “We have to be convinced that the winners are genuinely outstanding on a number of fronts. Therefore, the judging panel evaluates the finalists on client responses to our in-depth client survey, their advice documents and processes, the interviews we have with their staff, and the opinion we form after an onsite visit to their practice. The final stage is their face-to-face presentation to the seven-member judging panel. Without a shadow of a doubt, each of these finalists has earned the right to be recognised as being at the top of our profession.”

Now in its fourteenth year, the AFA Adviser of the Year Award is a joint initiative between the AFA and Zurich, and it is regarded as Australia’s most prestigious award for financial advisers. In its third year, the AFA Practice of the Year, which is also a joint AFA/Zurich initiative, is the foremost award for financial advice practices.

Mr Johns’ distinguishing factor in winning the AFA Adviser of the Year was the combination of his exceptional client relationships coupled with his demonstration to clients that they can achieve well-being, financial security, and lifestyle outcomes whilst still working, and he lives that through his own family, work and life choices.

Henderson Maxwell as the AFA Practice of the Year, led by Founder and CEO Sam Henderson and General Manager Tony Davison, demonstrated their expertise across all of the judging criteria. As a diversified financial services practice they bring a complete experience to their clients, and have successfully leveraged Mr Henderson’s media profile to attract and educate a broad demographic of clients. It is an innovative practice and has used social media very effectively as an engagement tool.

Zurich Life and Investments CEO Tim Bailey said Zurich is very pleased to continue to support the AFA Adviser of Year Award and the AFA Practice of the Year Award.

“Advisers can and do make a profound, positive difference in the lives of everyday Australians,” he said. “These Awards, which Zurich has supported since launch, are an important opportunity to identify, shine a spotlight on, and share best practice within the profession. This year’s winners are testament to the way advisers are constantly innovating in order to improve both the customer experience – and the accessibility – of quality financial advice.”

The Awards were presented at a Gala Dinner at the AFA National Adviser Conference in Canberra last week.

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Brad Fox

The Association of Financial Advisers (AFA) and Zurich have announced the grand finalists in the prestigious 2016 AFA Adviser of the Year and Practice of the Year Awards (the Awards).

This year three leading practitioners and practices are being recognised for their leadership, advocacy and innovation in the financial services industry.

In its 14^th Year, the Adviser of the Year Award was first presented in 2003, as a joint initiative between the AFA and Zurich, and is regarded as Australia’s most prestigious award for financial advice.

In its third year, Practice of the Year is now a highly competitive award with nominations growing significantly each year.

AFA CEO, Brad Fox, says the finalists across both categories have participated in a rigorous assessment process, where they have been judged on areas such as education, experience and contribution to the industry, as well as the processes they employ to deliver an outstanding and consistent customer experience.

“The Awards truly represent the cream of the crop, as evaluated by third party testing and robust business analysis,” says Fox.

“We know each year it is getting more difficult for great practitioners and practices to stand out from the crowd because the standard in our industry continues to be both raised and met. This is a great reflection of the desire in our industry to adapt and change.”

Zurich Life and Investments CEO Tim Bailey says: “As Australia’s premier advice awards, we continue to see finalists who are the true innovators and leaders amongst their peers. The calibre this year is once again exceptional, and proves that the advice profession remains vibrant, forward looking, and well placed to navigate the evolving landscape.”

The 2016 Grand Finalists for the Adviser of the Year Award are:

• Darren Johns, Align Financial, NSW
• Jason Peterson, 5 Financial, NSW
• Gary Spencer, Spencer Private Wealth, NSW

Finalists for the 2016 Practice of the Year Award are:

• Henderson Maxwell, NSW – Sam Henderson
• Mediq Financial Services, VIC – Ravi Agarwal
• Navwealth Financial Group, NSW – Craig Banning

Winners will be announced on 7th October 2016 at the AFA National Conference at the National Convention Centre in Canberra.

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