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Members of the Monetary Planning Affiliation of Australia (FPA) and Affiliation of Monetary Advisers (AFA) will vote on a proposed merger of the 2 associations at Extraordinary Basic Conferences (EGMs) for every affiliation to be held on Tuesday 28 February 2023.
The AFA EGM will likely be held at 11am AEDT and the FPA EGM will likely be held at 2pm, each in Sydney, and will likely be accessible by stay stream for these members unable to attend in particular person.
Members have acquired the Discover of Assembly in addition to the ultimate copies of paperwork which were reviewed by members through the session part – the Merger Abstract, and the proposed Structure of the merged affiliation.
Eligible voting members will have the ability to vote both in particular person, through the stay stream, or by appointing a proxy at any time till 48 hours earlier than the graduation of their EGM.
Members can submit questions concerning the proposed merger of the FPA and AFA, which will likely be addressed through the respective EGMs. These questions might be requested both in particular person on the EGM, or prematurely of the assembly through the portal.
David Sharpe, chair of the FPA, mentioned the EGM presents eligible voting members an historic alternative to vote for a united voice for the occupation.
“A merger of the FPA and AFA will present our occupation with a stronger coverage and advocacy voice to authorities in addition to a stronger voice on the worth of economic recommendation for customers.
“We encourage all members to participate within the vote and guarantee their voices are heard,” he mentioned.
Members have additionally been notified of the proposed identify for the merged affiliation. The total authorized identify would be the Monetary Recommendation Affiliation of Australia Restricted. The Affiliation will typically be often known as the “Monetary Recommendation Affiliation.”
This follows a session interval the place members of the FPA and AFA offered their suggestions on what was necessary to them in a reputation.
Sam Perera, president of the AFA, mentioned there was a excessive degree of engagement by members, with over 500 responses acquired.
“In the course of the member session course of, we acquired robust and constant suggestions that the identify for the merged affiliation ought to be easy, mirror professionalism, honour the heritage of each organisations, and promote unity. It also needs to clarify the function the organisation will play in supporting monetary advisers and planners.
“The brand new identify represents the approaching collectively of the occupation of economic recommendation in Australia, now and sooner or later,” he mentioned.
The proposed merger of the FPA and AFA will happen if 75 per cent of the votes solid by eligible voting members are in favour of the merger.
For extra background on the proposed merger, please go to:
FPA: https://faaa.au/afa-fpa-merger/
AFA: https://www.afa.asn.au/a-united-voice-for-the-profession
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