FPA and AFA officially merge to become the FAAA

The Financial Planning Association of Australia (FPA) and the Association of Financial Advisers (AFA) have legally completed their merger to form the Financial Advice Association Australia (FAAA).

In a statement issued on Monday, the FPA and AFA confirmed that from 3 April 2023, their staff will come together as a single team in one office, and activity will begin to be undertaken under the FAAA name. 

The FAAA has also revealed its new logo, which was created following comprehensive consultation with its members, and is set to be launched this April.

Central to the new logo design are the three “A’s” of the name represented as three speech bubbles, to symbolise its voice in dialogue with key stakeholders.

The AFA and FPA confirmed that while FPA members will start to see a transition to the new FAAA branding over coming weeks, the AFA will continue to operate under its own brand until 30 June, when those members who renew will move to the FAAA.  

The new association’s board of directors has also been confirmed and will include David Sharpe as chair, alongside FPA directors Diana D’Ambra, Kearsten James, William Johns, Jade Khao, Julie Matheson, Angela Martyn, and Julian Place. 

The nominated AFA directors who will serve on the FAAA board are Michelle Veitch as deputy chair, Katherine Hayes, Patricia Garcia, and Shaun McDonagh.

Despite his decision not to join the new board, Sam Perera, the AFA national president, expressed pride in his contribution towards the consolidation of the two associations.

“I have decided to refocus my time toward my family, staff, and practice who have been patient with my absence whilst I served on the AFA board. I will remain an active member of the FAAA and continue to contribute in the areas of policy and advocacy,” Mr Perera said. 

David Sharpe, the FAAA chair, expressed gratitude to Mr Perera for his work as AFA national president, dedication to the profession over the years, and his role in consolidating the two associations, while also thanking other AFA directors for their efforts in making the merger possible.

Looking forward, he said the new board represents a unified voice for the financial advice profession.  

“We had already taken steps to bring the board members together to start discussions following the merger, and the AFA nominated directors participated as guests at the last FPA board meeting and strategy day.  

“We are now in a strong position to start our work as a merged association, advocating on behalf of members,” he said.  

FPA and AFA membership renewals will kick off in May, with all branding, website, and membership activity due to be fully transitioned to the FAAA branding by 30 June.