‘We want thousands of members voting’, says FPA chair

The chair of the Financial Planning Association (FPA), David Sharpe, has urged members to vote in favour of the proposed merger with the Association of Financial Advisers (AFA).

Mr Sharpe flagged the FPA’s “massive agenda” for the year ahead in an online video message published on Friday, not the least of which, he said, is the proposed merger.

“The merger has unanimous support from both boards, who absolutely believe that this is in the best interest of both associations, the profession, but crucially and most importantly, it’s in the best interest of you, our members,” he said.

Voting for the merger, which was originally announced in September last year, is scheduled to open early next month before closing at the FPA and AFA EGMs on 28 February.

“Really importantly, we don’t just want your support, we’re going to need your vote,” said Mr Sharpe.

“For this merger to get up, we’re going to need at least 75 per cent of those who vote to support the motion. But to be completely blunt, we want thousands and thousands of our members voting, because this is going to be a fundamental shift to our association.”

Mr Sharpe suggested that a merger with the AFA would deliver many benefits, highlighting two in particular as part of his video message.

“A merger gives us a much stronger policy and advocacy voice to government, which is absolutely critical. This alone is reason enough to make the merger work,” he said.

“Secondly, it also gives us a much stronger voice to and for consumers on the value of financial advice.”

The FPA will host an all-member webinar on 25 January to provide members with the opportunity to ask questions and provide feedback. The association will also provide an updated roadmap on where the merger is currently at and what the next steps are.

Meanwhile, the AFA is also set to discuss how plans for the merger are progressing, including details of the merger summary and draft constitution, in a member webinar on 24 January.

Jon Bragg

Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.