FAAA expands policy and advocacy team as the fire is lit under DBFO 1.5

On the heels of Financial Services Minister Stephen Jones’ announcement last week, in which he unveiled the exposure draft for the next instalment of the Delivering Better Financial Outcomes (DBFO) reform, the Financial Advice Association Australia (FAAA) has appointed David Barrett to the newly created role of senior manager policy and advocacy.

Effective 24 March, Barrett will take on a number of responsibilities, including assisting with policy formulation, building stakeholder relationships and developing practical member tools and guidance. He is based in Sydney and will report to general manager policy, advocacy and standards Phil Anderson.

The association said this new position has been created to “further bolster FAAA’s capabilities as it ramps up its advocacy and policy activities”.

Barrett joins the FAAA with more than 30 years of experience in the financial advice sector under his belt including a 25-year stint at Macquarie Bank during which he held a number of senior roles. Most recently he was the division director, head of Macquarie technical advice services.

Prior to this, Barrett also spent time as a private wealth adviser at UBS and paraplanning manager for Portfolio Planning Services. Additionally, he has a master of laws from the University of Melbourne and a bachelor of laws from the University of New England, as well as holding a Certified Practicing Accountant (CPA) designation.

With knowledge across several key areas, including superannuation, taxation, estate planning and social security entitlements, as well as the adviser professional standards – CPD, education requirements, the professional year and adviser exam – and advice processes, Barrett has numerous skills to offer.

Speaking on Barrett’s appointment, Anderson said this move will support the FAAA’s continued development and implementation of the association’s policy and advocacy goals.

“David’s extensive experience working with financial advisers, particularly in areas such as technical advice, regulatory impacts and professional standards, will provide a valuable contribution as we work to develop and refine our policy positions and engage with our stakeholders and members,” Anderson said.

“We look forward to David contributing to our ongoing efforts in shaping the future of financial advice in Australia.”