The Association of Financial Advisers (AFA) and the Financial Planning Association of Australia (FPA) have achieved legal completion of their merger to form the Financial Advice Association Australia (FAAA), and have confirmed the board directors of the new association.
From 3 April 2023, FPA and AFA staff come together as a single team in one office, and activity will begin to be undertaken under the FAAA name.
The FAAA has also unveiled its new logo, created following extensive member consultation. The logo and new branding will be rolled out during April. Central to the new logo design are the three “a”s of the name represented as three speech bubbles, to symbolise our voice in dialogue with our key stakeholders.
While FPA members will start to see a transition to the new FAAA branding over coming weeks, the AFA will continue to operate under its own brand until 30 June, when those members who renew will move to the FAAA.
David Sharpe will be the Chair of the FAAA and Michelle Veitch has been appointed as Deputy Chair.
The FPA Directors who will serve on the FAAA Board are:
- David Sharpe – Chair
- Diana D’Ambra
- Kearsten James
- William Johns
- Jade Khao
- Julie Matheson
- Angela Martyn
- Julian Place
The nominated AFA Directors who will serve on the FAAA Board are:
- Michelle Veitch – Deputy Chair
- Katherine Hayes
- Patricia Garcia
- Shaun McDonagh
More information about the FAAA Directors is available on our website at: https://fpa.com.au/about/governance/
AFA national president Sam Perera, who will not be joining the new Board said he is proud to have played a part in bringing together the two associations.
“I have decided to refocus my time toward my family, staff and practice who have been patient with my absence whilst I served on the AFA Board. I will remain an active member of the FAAA and continue to contribute in the areas of policy and advocacy” Mr Perera said.
Mr Perera will remain the president of the AFA and an AFA Board member until the AFA is wound up.
FAAA chair David Sharpe paid tribute to Mr Perera’s three and a half years on the AFA Board and his tireless dedication to the profession over many more years.
“I would like to thank Sam for his work as the AFA National President, and his deep commitment to bringing our two associations together. I also thank the other AFA Directors who have worked so hard to make this merger a reality.”
“I would also like to acknowledge and thank Marisa Broome who, as immediate past Chair of the FPA, was deeply involved in the early stages of talks and integral to the ultimate success of our merger.
“On behalf of the Board of the FAAA, I would also like to extend our gratitude to all staff who have worked so hard to get us to this point.”
Mr Sharpe added that the new board represents a unified voice for the financial advice profession.
“We had already taken steps to bring the Board members together to start discussions following the merger, and the AFA nominated Directors participated as guests at the last FPA Board meeting and strategy day.
“We are now in a strong position to start our work as a merged association, advocating on behalf of members,” he said.
FAAA Deputy Chair, Michelle Veitch, said the formation of the FAAA represents a new chapter in the financial advice profession.
“I urge all members to renew with the new association. The FAAA will speak with one strong voice for the vast majority of financial advisers in the Australian market, as we work towards ensuring better outcomes for advice practices and their clients,” she said.
FPA and AFA membership renewals will kick off in May, with all branding, website and membership activity due to be fully transitioned to the FAAA branding by 30 June.
