FPA/AFA merger enters final stages

Mike Taylor

Managing Editor/Publisher, Financial Newswire

30 January 2023

Culture and a new name are the primary issues for members of the Financial Planning Association (FPA) and the Association of Financial Advisers (AFA) as they approach the final stage of their merger proposals.

Extraordinary General Meetings of both organisations will be held on Tuesday 28 February after members are provided with a merger summary document inclusive of a proposed new constitution and the proposed new name.

Both organisations said on Friday that members of both associations had been asked for their views on two key documents – a merger summary which includes draft resolutions and a draft constitution.

FPA chair, David Sharpe said the next stage would be to incorporate member feedback and to finalise the draft documents, while AFA president, Same Perera said community and cultural were critical issues.

“We have already established a committee to make recommendations on how to retain the best of both associations,” he said.

“As well, members are very interested in the selection of a new name, and we have received lots of feedback that we need a name that is practical, forward-looking, descriptive and professional.”

Following the end of the member consultation period, the final merger summary document and the new constitution, as well as the proposed new name of a merged association, will be sent to members of both associations on 6 February 2023.

This will also include details of the Extraordinary General Meetings for both associations, at which the vote will be held. Both EGMs are scheduled for Tuesday 28 February, and will be held at different times at the same Sydney CBD venue.

Members will be able to attend and vote in-person or digitally. They can also vote early by giving their proxy.

If the vote is in favour of the merger, then the new association is expected to legally commence in early April.  A new name and new constitution will be finalised, and the transitional board will start.