Advisers have offered considered feedback about the prospect of a merger between the AFA and FPA, but are divided about whether such a merger should take place.
As we go to print, 57% of poll respondents are against an AFA/FPA merge, while 38% are in favour (5% undecided).
One common thread in the comments of those who are not in favour of the merger is a belief that the AFA better represents the interests of its members, while the FPA is sometimes seen to have too close an affiliation with fund managers:
“Both organisations have their places and merits and can come together on unified policy. [But] From an adviser perspective, WHY MERGE?? and risk the adviser losing his/her voice.”
“Is the FPA really an organisation that represents advisers adequately?”
Comments favouring a merger between the two adviser bodies express a common theme related to a fully united financial advice industry:
“As a long time supporter and member of the AFA for 30 years I welcome the discussions of having ONE Association representing advisers in Australia. Regardless of what has happened in the past and compositions of the various Boards, we as advisers should be looking at moving forward and having one Association run by advisers for advisers.”
“If both bodies were to merge, the people in charge will need to sit down, throw out all their past views and work together on how they can further the understanding of both the public and regulators of just what advisers/planners really do…”
“Government will no doubt listen more to a stronger body with significant numbers which should strengthen their voice in relation to proposed legislative industry changes.”
Your opinion matters. If you have yet to vote on this question, which has generated much debate amongst advisers and others in the financial services industry, make your voice heard…
