The Association of Financial Advisers (AFA) has announced that its current Chief Executive, Brad Fox will stand down from the role after four years with former Zurich executive, Philip Kewin to take on the role from 20 March.
In a statement released to media, the AFA said Fox’s resignation and the appointment of Kewin was a planned move in which Fox would act as a consultant to the Association in the areas of professional standards and codes and assist Kewin in his transition into the Chief Executive role.
“We are now entering the next phase of implementing the professional standards legislation where our members will get the professional recognition they deserve,” Fox said.
“Now is the right time for me to hand the baton on to Phil. He can continue to lead this implementation for our members, and for the AFA as a professional body, over the next four to five-year period.”
During his four years in the role Fox represented the AFA during the introduction of Future of Financial Advice reforms, MySuper, Professional Standards and the Life Insurance Framework.
A statement released by the AFA said Fox was also involved in the establishment of the Genxt, Inspire, and Leaders Forum Communities of Practice; the Your Best Interests consumer financial literacy campaign; the setting of the Fellow Chartered Financial Practitioner designation (FChFP) at Masters level; AFA’s renewed Professional Code and Principles of Practice; the AFA Excellence in Education, AFA Female Excellence in Advice and AFA Practice of the Year Awards and the AFA Consumer Choice Life Insurance Awards.
AFA Board President, Marc Bineham said Kewin would bring experience as a financial adviser and company executive and was well placed to represent advisers and the value of advice.
Kewin was most recently General Manager Life and Investments at Zurich Financial Service, having left the group in October 2016.
Well done on your appointment Phil so looking forward to seeing you lead the AFA into the future.
Not an inspiring choice in my opinion.
I don’t expect the AFA to deliver much more or less than they already have in the past.
It does seem that our industry regulators have forced the issue of belonging to an association. So in real terms it matters not who leads it going forward.
Memo AFA – WE , THE MEMBERS WANT AN ASSOCIATION WHO CONSULTS ALL MEMBERS.
And regardless of personalities, I think it was a total disaster to have the CEO as a member of the AFA Board- this must not occur again, EVER !!!!!
CEOs are PAID servants of the MEMBERS, via our representatives on the elected Board, and human nature says there must be a power struggle if the employed CEO votes on the Board. In an organization controlled by practitioner members, the President and chief figurehead must be a practitioner, just like in the AMA. If necessary, pay the President a salary or expense reimbursement.
Salaried CEOs should be there to drive the Boards agenda, not create that agenda.
Hands up those who can name the CEO of the AMA. But many ordinary Australians know Dr Michael Gannon from WA is the president of the AMA, because he is their public face. In the last days there he is on TV challenging the populist stupidity of Ms Hanson on children’s vaccinations.
We need to challenge statements relating to advisers as & when they occur in the public. On last Monday, there were two insurers who gave evidence last week who should have challenged by the AFA, and the point made that such actions would not occur if there was an adviser involved
And what I want is for our AFA to criticize life insurers where the engage in acts of bastardry like paying doctors extra to send Complete patient files to a claims office as detailed in a Parliamentary Enquiry and last weekends Fairfax Media.
This criticism of insures when justified must occur by the AFA regardless of whether that insurer sponsors an AFA Conference or forces the advisers in its dealerships to join the AFA.
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