MenuMembers of the Financial Planning Association of Australia (FPA) and Association of Financial Advisers (AFA) will vote on a proposed merger of the two associations at Extraordinary General Meetings (EGMs) for each association to be held on Tuesday 28 February 2023.
The AFA EGM will be held at 11am AEDT and the FPA EGM will be held at 2pm, both in Sydney, and will be accessible by live stream for those members unable to attend in person.
Members have received the Notice of Meeting as well as the final copies of documents that have been reviewed by members during the consultation phase – the Merger Summary, and the proposed Constitution of the merged association.
Eligible voting members will be able to vote either in person, during the live stream, or by appointing a proxy at any time until 48 hours before the commencement of their EGM.
Members can submit questions about the proposed merger of the FPA and AFA, which will be addressed during the respective EGMs. These questions can be asked either in person at the EGM, or in advance of the meeting via the portal.
David Sharpe, chair of the FPA, said the EGM offers eligible voting members an historic opportunity to vote for a united voice for the profession.
“A merger of the FPA and AFA will provide our profession with a stronger policy and advocacy voice to government as well as a stronger voice on the value of financial advice for consumers.
“We encourage all members to take part in the vote and ensure their voices are heard,” he said.
Members have also been notified of the proposed name for the merged association. The full legal name will be the Financial Advice Association of Australia Limited. The Association will generally be known as the “Financial Advice Association.”
This follows a consultation period where members of the FPA and AFA provided their feedback on what was important to them in a name.
Sam Perera, president of the AFA, said there was a high level of engagement by members, with over 500 responses received.
“During the member consultation process, we received strong and consistent feedback that the name for the merged association should be simple, reflect professionalism, honour the heritage of both organisations, and promote unity. It should also make clear the role the organisation will play in supporting financial advisers and planners.
“The new name represents the coming together of the profession of financial advice in Australia, now and in the future,” he said.
The proposed merger of the FPA and AFA will take place if 75 per cent of the votes cast by eligible voting members are in favour of the merger.
For additional background on the proposed merger, please visit:
FPA: https://faaaoldsite.wpengine.com/afa-fpa-merger/
AFA: https://www.afa.asn.au/a-united-voice-for-the-profession
