Members of the Financial Planning Association and Association of Financial Advisers 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.
In a media release from both associations, it detailed that 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.
Eligible voting members will be able to vote either in person, during the live stream, or via appointing a proxy at any time until 48 hours before the commencement of their EGM.
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.
Additionally, the proposed name change has been selected: the full legal name will be the Financial Advice Association of Australia Limited, but for short will be known as the Financial Advice Association or FAA.
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.
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.