The Financial Planning Association of Australia has released a new discussion paper on the evolution of advice over the next five years and opened consultation on its proposed new policy platform, which it expects to release in 2020.
The paper, titled Evolution of Advice: The Financial Planning Profession from 2020 to 2025, explores the major issues that will affect the profession during this time, including the affordability of advice, how financial planners interact with their clients and the health of the profession.
The FPA stated it will be asking members to contribute their views over the next month via its new FPA Community online forum with member feedback forming the basis of the Association’s new policy initiatives for the next five years.
Referring to an FPA white paper from 2014, FPA Chief Executive, Dante De Gori, says its advocacy has resulted in nine of the ten key milestones listed being adopted.
“Now we must look to the future and evolve our vision for the financial planning profession over the next five years,” he said.
“Now we must look to the future…”
“While the profession is going through a period of rapid change, Australians’ demand for high quality, independent and affordable financial advice remains undiminished. The FPA’s policy platform provides an opportunity for us to lead the conversation about the future of financial advice in this country and how we can better serve Australian consumers.”
The FPA stated its members will be able to share their views by responding to a series of questions posed in FPA Community, available from early December.