Nearly one year\u00a0since its announcement that it would become a professional association, the Financial Planning Association (FPA) has revealed an annual loss of over $500,000.<\/p>\n
<\/p>\n
The 2011 FPA Annual Report showed an outlay of $819,000 towards its professional association restructuring costs, resulting in an overall loss of $537,149.<\/p>\n
The Report states that:\u00a0 ‘Whilst 2010\/2011 saw a surplus from operations, the extraordinary expenses incurred produced an overall loss.’<\/p>\n
However, in his CEO’s report, Mark Rantall<\/strong>, points out that the FPA’s financial position ‘remains very strong’.<\/p>\n ‘Our pledge to you is to provide vision, leadership and resources to raise professional standards and the community standing of our members.’ Mr Rantall said in his report.<\/p>\n In other FPA news, the Association has announced the Chapter winners of its inaugural Best Practice Awards.\u00a0 The Awards, which replace the Value of Advice awards, recognise professional financial planning expertise that is provided in line with the FPA Code of Professional Practice and Code of Ethics.<\/p>\n The Chapter winners in the three Best Practice Awards categories are:<\/p>\n FPA Certified Financial Planner (CFP) Professional Best Practice Award<\/em><\/strong><\/p>\n FPA Associate Financial Planner Best Practice Award<\/em><\/strong><\/p>\n \u00a0Future2 Community Service Best Practice Award<\/em><\/strong><\/p>\n\n
\n
\n