FPA and AFA retain branding agency ahead of merger

Mike Taylor

Managing Editor/Publisher, Financial Newswire

15 December 2022

The boards of the Financial Planning Association (FPA) and the Association of Financial Advisers (AFA) have reasserted their support for a merger of the two organisations and have confirmed already retaining a branding agency to develop a new name and brand.

Retaining the branding agency has come as the two organisations confirmed they had entered the second round of consultation with members who had now received a merger summary document and draft constitution and are being encouraged to give feedback.

But what the first round of consultation has already told the boards of the FPA and AFA is that members are looking for effective advocacy as the number one priority.

In an update on the process, AFA national president, Sam Perera said the first round of consultation had shown members see the benefits of a merged association providing a united voice for financial planners and advisers.

For his part, FPA chair, David Sharpe said that the two organisations believed a merged association would result in more effective advocacy capable of creating a unified voice which would speak for all members, as well as the wider profession.

“A merged association will also allow more and better resourcing for members, including events, community and professional standards.

“The boards of both associations strongly believe that a merger is in the best interests of all members, and the financial planning profession, and it will be the FPA and AFA members themselves who make the final decision on whether to merge.”

The two organisations said the next step will be separate AFA and FPA consultative member webinars, which will be held in late January, where members can provide any final feedback before voting will formally open in early February 2023. Voting will close at the FPA and AFA EGMs on 28 February, and the results will be announced shortly thereafter.

For the proposal to succeed, 75% of members of both associations who vote will need to vote in favour.