The importance of the proposed merger between the Association of Financial Advisers and Financial Planning Association has been highlighted in an open letter by 15 current or former leaders of both associations.

Members are due to vote on the merger this month. The FPA and AFA have spent the last six months consulting on the process after announcing the vote last August.

The full letter is outlined below:

To our peers in the profession and members of the FPA and AFA,

Next week, many of us will receive documents to vote on the proposed merger of the FPA and AFA.

We, the signatories, strongly support the unanimous recommendation of both boards that a merger is in the best interests of members, and of the wider profession.

While a merger offers many benefits, we believe three of the most crucial include:

  • A stronger, united voice for policy and advocacy efforts to government, creating a greater likelihood we will achieve our advocacy goals;
  • A more efficient use of resources to support membership services; and
  • A greater capacity for campaigns to raise awareness of and promote the importance of financial advice, amongst both Australian consumers and potential new entrants to the profession.

For the merger to go ahead, 75 per cent of members who vote need to vote in favour. Voting will open soon, and we strongly encourage you to get involved and support the future of our profession by voting ‘yes’.

This is a crucial moment in the development of our profession. We have the opportunity to create a strong, unified voice that will strengthen and grow our profession, and positively impact the lives and financial wellbeing of Australians every day.

Join us and support the future of our profession. Vote ‘yes’ for the proposed FPA and AFA merger.

The letter was signed by:

  • Dennis Bateman, AFA president (2006-2008) and AFA Treasurer (2008-2012);
  • Julie Berry, FPA chair (2007-2010);
  • Mark Bineham, AFA president (2016-2020);
  • Jo-Anne Bloch, FPA CEO (2006-2010);
  • Marisa Broome, FPA chair (2018-2022);
  • Dante De Gori, FPA CEO (2016-2022);
  • Brad Fox, AFA president (2010-2012) and AFA CEO (2013-2017);
  • Neil Kendall, FPA chair (2014-2018);
  • Deborah Kent, AFA president (2014-2016);
  • Phillip Kewin, AFA CEO (2017-2021);
  • Richard Klipin, AFA CEO (2006-2013);
  • Michael Nowak, AFA president (2020-2021 & 2012-2014);
  • Mark Rantall, FPA CEO (2010-2016);
  • Matthew Rowe FPA chair (2010-2014); and
  • Jim Taggart, AFA president (2008-2010).