{"id":64685,"date":"2023-02-28T15:20:09","date_gmt":"2023-02-28T04:20:09","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=64685"},"modified":"2024-10-30T08:41:58","modified_gmt":"2024-10-29T22:41:58","slug":"afa-fpa-merger-confirmed","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/02\/28\/afa-fpa-merger-confirmed\/","title":{"rendered":"AFA\/FPA Merger Confirmed"},"content":{"rendered":"

The Association of Financial Advisers and the Financial Planning Association of Australia will merge to form the Financial Advice Association of Australia.<\/p>\n

Confirmation of the merger was made this afternoon following Extraordinary General Meetings conducted by both associations, where the result of the member vote on the merger proposition was announced.<\/p>\n

A release announcing confirmation of the merger reported an average of 96.5% of AFA votes and 96.7% of FPA votes were in favour of the merger proposition, well exceeding the minimum 75% required for the merger to proceed.<\/p>\n

A merged association gives us a united voice at a crucial turning point for our profession<\/p><\/blockquote>\n

AFA National President, Sam Perera<\/strong>, said the result showed overwhelming support by members for a merger and that \u201cA merged association gives us a united voice at a crucial turning point for our profession, including the proposed changes from the Quality of Advice review.”<\/p>\n

Perera added the during discussions in recent months with members, it was clear that there was significant support for a merger, “…but we never took this for granted and recognised the importance of members having their say,\u201d he said.<\/p>\n

…an historic day<\/p><\/blockquote>\n

\"\"<\/a>
Inaugural Financial Advice Association Chair and current FPA Chair, David Sharpe …an historic day<\/figcaption><\/figure>\n

Calling it an historic day, FPA Chair, David Sharpe<\/strong>, added that both the AFA and FPA boards were unanimously in support of a merger since it was first proposed to members in September 2022.<\/p>\n

\u201cThe boards developed the proposal as they believed a merger for the two associations was in the best interests of all members, and of the financial planning and advice profession as a whole. We saw substantial benefits from a merger, and it is clear from the vote that the vast majority of members also recognise these benefits.”<\/p>\n

The statement notes the full legal name of the new association will be the Financial Advice Association of Australia Limited, and that legal completion is expected to take place on 3 April 2023.<\/p>\n

A transition period to the new association is intended to run from April to June 2023, including adoption of the new name and constitution, finalising and launching a new brand and logo, new board formation, and membership transition. The transition is expected to be complete by 1 July 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Association of Financial Advisers and the Financial Planning Association of Australia will merge to form the Financial Advice Association of Australia. Confirmation of the merger was made this afternoon following Extraordinary General Meetings conducted by both associations, where the result of the member vote on the merger proposition was announced. A release announcing confirmation […]<\/p>\n","protected":false},"author":3,"featured_media":64712,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282],"tags":[],"class_list":["post-64685","post","type-post","status-publish","format-standard","has-post-thumbnail","category-associations"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/64685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=64685"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/64685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/64712"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=64685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=64685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=64685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}