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Resources, events and opportunities for FPA members

the

FPA little

BLACK

BOOK

Autumn 2012


WHAT DO A

PILOT AND A FINANCIAL PLANNER

have IN COMMON?

As part of our continuing consumer advertising campaign, this year we will once again be highlighting FPA members’ higher standards by: • Leveraging off a 14% increase in consumer awareness of FPA members gained from our 6-week multi-media campaign last year, • Running a sustained campaign over 12 months to strengthen brand awareness of FPA members, • Appearing on Sky Business channel, selected magazines, major newspapers and finance websites, and optimising the FPA in Google search and Adwords to increase Find a Planner searches, • Varying the messages during the year to promote CFP® professionals as well as all FPA practitioner members, • Reducing the advertising levy for this financial year to just $200 for practitioner members. It is only with the support of our practitioner members that the FPA can run this campaign. For more information visit www.fpabestpractice.com.au/campaignhq, and remember Financial Planning Week takes place from 20-26th August 2012.


THE FPA LITTLE BLACK BOOK | 3

THE ONLY WAY

7

TO SECURE A

BRIGHT FUTURE

IS TO invent IT

reasons to be a member of the FPA

1. Access to the CERTIFIED FINANCIAL PLANNER® designation 2. Recognition in the community as a professional financial planner 3. As the peak professional body, the FPA advocates strongly on your behalf 4. You will always be up to date with regulatory and professional issues 5. Members’ only pricing for professional development and education 6. Members’ only password protected website and social media apps

7. Members’ only pricing for conferences and events, saving you money.

Use this Little Black Book to see how you can take advantage of valuable member benefits. It’s the 20th anniversary of the FPA, the leading professional organisation for financial planners in Australia, so join us in the celebrations. Be an active member of your association that represents more than 8,500 practising financial planners and a total of over 10,000 members.


4 | THE FPA LITTLE BLACK BOOK

OLK

1 July 2012 is a milestone for FPA practitioner members who are required to transition their remuneration structure across to a fee-for-service model. The FoFA reforms signal key steps towards gaining community respect for the financial planning profession with commissions soon to be history for most aspects of investment and superannuation advice.

MEMBER

TOOLKIT

MEMBER TOOLKIT

MEMBER

FPA FEE-FOR-SERVICE

EX TO IT CL US IVE

The FPA is leading the way with its own Remuneration Policy, approved by the FPA Board in September 2009, that will see FPA members required to transition to a fee-based, client directed payment model, effective from 1 July 2012. The FPA has prepared a Toolkit to help you transition your business to fee-for-service. This useful Toolkit brings together the best ideas and strategies from FPA experts, FPA practitioner members and leading technical specialists in the industry. As an FPA member you will find practical tools and educational resources to help you. This fee-for-service Toolkit is exclusively available to FPA members as part of your membership. “Having been through the whole fee transition with our own business, my view is that the FPA has created an extremely valuable member resource.” Drew Potts CFP®, Western Pacific Financial Group “Really easy to follow with good tools and reading material attached. It seems a simple process for transitioning a practice to fee for service.” Adrian Judd AFP®, Investment & Insurance Wise

Find out more at: www.fpabestpractice.com.au/feeforservice


THE FPA LITTLE BLACK BOOK | 5

FINANCIAL PLANNING MAGAZINE & WEBSITE NEW! The FPA is proud of the highly regarded Financial Planning Magazine, an essential publication that is delivered to you as part of your membership. Every month, you will read the latest insights from financial planning experts on issues from practice management and professional standards to policy and advocacy. Each issue covers the latest market and economic views with insightful contributions from the FPA and industry experts.

FINANCIAL PLANNING MAGAZINE ONLINE

Now you can take advantage of our industry leading magazine content online, take part in forums and post comments. There are social media functions to make it easy for you to access content however you wish and a useful magazine reference library.

Find out more at: www.financialplanningmagazine.com.au


6 | THE FPA LITTLE BLACK BOOK

BECOME AN FPA PROFESSIONAL PRACTICE

PROFESSIONAL

.............................................................

PRACTICE

.............................................................

Why become an FPA Professional Practice? Becoming an FPA Professional Practice will distinguish your business as a financial Higher community recognition planning practice of the highest calibre The use of FPA Professional Practice branding through the co-branding opportunities in your offices and on your business stationery available. The commitment by your practice to maintain the highest professional and educational standards will stand your business apart as a role model in the community. The interests of both FPA practitioner members and Professional Practices are supported through representation and advocacy, together with national consumer promotion, highlighting the higher standards of FPA members.

will clearly identify you as a high quality, professional financial planning practice. To your peers, you’ll represent higher professional standards

The quality of your business will be instantly recognisable because at least 75% of your practitioners are FPA members and at least 50% have achieved CFP® Professional status. Your practice will become an ‘employer of choice’ Both future and current employees will be reassured by your standing as a Professional Practice.

What will my business receive as an FPA Professional Practice?

      

Contractual rights for your business to use the FPA Professional Practice logo 10% saving on FPA online CPD programs 10% saving on CFP® Program enrolments Special Professional Practice rates for FPA events Exclusive events tailored for FPA Professional Practices Access to expert FPA speakers at your PD Days, Conferences and other key events Tailored CPD workshops designed to fit in with your programs and requirements focusing on the FPA Code of Professional Practice

Want to know more? visit www.fpabestpractice.com.au/professionalpractice


The CERTIFIED FINANCIAL PLANNER速 designation is the global symbol of excellence that identifies a professional financial planner of the highest ethical and practice standards. CFP practitioners are sought after by professional practices and are strongly in demand by consumers as they stand out from the crowd. Only the FPA offers CFP practitioner status in Australia, where members have to meet specific entry requirements including a relevant degree. They must commit to professional conduct by adhering to the FPA Code of Professional Practice and must commit to professional accountability. The CFP program enhances your personal brand as a professional financial planner and raises the bar for the whole profession through practice standards, ethical principles and conduct rules that underpin professional financial planning practice. Maintain or build your reputation for the future as a CFP professional. The next enrolments into the CFP program are open from 1/6/2012-13/7/2012. For more information visit www.fpabestpractice.com.au/cfp.

CFP速, CERTIFIED FINANCIAL PLANNER速 and CFP Logo Mark are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Association of Australia Limited is the marks licensing authority for the CFP Marks in Australia, through agreement with FPSB.


8 | THE FPA LITTLE BLACK BOOK

GET INVOLVED WITH THE FPA’S ADVOCACY WORK The FPA is proud to champion the cause of professional financial planners and Australian consumers with its strong relationships with Government, regulators and the media. The FPA played a crucial role in the shaping of the Future of Financial Advice reforms, and negotiated several significant wins for members and their clients, including: • Exemptions of Opt-in under a Code of Professional Practice • Transition start date of 1 July 2013 • Enshrining the term ‘Financial Planner’ • Amendments to the annual fee disclosure.

DID YOU KNOW?

100

Over the past year the FPA...

70 50 12

Attended over 100 Government and regulator meetings

Issued more than 70 media releases

Produced over 50 formal submissions

Sat on at least12 different Government committees

The FPA’s Four Policy Pillars FPA policy is developed according to a clear and documented ‘four pillars’ framework. These four policy principles are: 1. It must be in the public’s best interest 2. It must enhance professional practitioners 3. It must be in line with the Government and regulatory requirements 4. It must adhere to the FPA’s Code of Professional Practice.

Have your say When developing submissions to Government, we encourage FPA practitioner members to make a contribution. You can have your say by: • Keeping up to date by reading our weekly e-newsletter, FPA Express • Visiting www.fpa.asn.au/policy • Emailing your questions or policy suggestions to policy@fpa.asn.au • Following Dante DeGori on Twitter @ddegori10.

GIVE BACK TO THE PROFESSION Make a real difference and get your voice heard. Join the FPA Policy and Regulations Committee or FPA Technical Workgroup. Register your interest by emailing General Manager Read more aboutof thePolicy & Government Relations, FPA’s FourDante PolicyDeGori Pillars on dante.degori@fpa.asn.au.


THE FPA LITTLE BLACK BOOK | 9

GET ONLINE WITH THE FPA Members get online for faster access to valuable news and information. Get the latest news and up to date information on what’s happening in the profession from the FPA website. As well as useful information on education, policy, professional standards and local Chapter news, members benefit from member-only password protected areas with detailed content from FPA and industry experts.

Make sure clients can find you Keep your detailed profile updated on our Find a Planner service

Join member discussions on LinkedIn The latest topical debates are happening on the FPA’s LinkedIn members discussion forum. Log on to www.linkedin.com and search for Financial Planning Association of Australia.

Visit our website at www.fpabestpractice.com.au

Search for Financial Planning Association of Australia

Get the latest updates on Twitter Get our point of view on issues affecting our members as they happen. Follow us on Twitter @AustraliaFPA.

Follow us @australiafpa

CONNECT WITH YOUR PROFESSIONAL ASSOCIATION


10 | THE FPA LITTLE BLACK BOOK

KEEP LEARNING... CPD − THE FPA WAY Whether you operate as a small independent business or with the support of large dealer group resources, finding a varied range of different and high quality sources of CPD has never been easier.

Topics covered include:

The FPA brings together the best ideas and strategies from FPA experts and leading specialists in the industry. You will find a practical and diverse range of CPD resources to help you in many areas of your business.

• • • • • • • • •

Professional Practice and Conduct Ethics FoFA-readiness Practice Management Soft Skills Investments Estate Planning Aged Care SMSFs

Webinars coming up in May and June BEYOND THE SHADOW SHOPPER WEBINAR Following on from our successful workshop series, find out what the ASIC Shadow Shopper report means for you and your business. Analyse case studies from the report and identify new best practice strategies to apply in your business immediately. 21st May 2012, 12:30pm 2 CPD points FoFA AND THE FPA CODE OF PROFESSIONAL PRACTICE Are you FoFA ready? Dr June Smith explains how to map your practices to the Code and ensure your business is ready for the implementation of the FoFA legislation. 22nd June, 12:30pm. 1.5 CPD points Book now at www.fpabestpractice.com.au/CPDPrograms

KNOW YOUR

CODE and RECEIVE 2 FREE

ETHICS CPD points

The FPA Code of Professional Practice is the foundation of best practice for financial planning. Take advantage of this unique opportunity to bring the Code to life in your business. • • • •

FREE to FPA members Earn 2 Ethics CPD points Takes just 2 hours, anytime, anywhere Available to non-members for $99

Take the program now. Visit www.fpabestpractice.com.au/code


THE FPA LITTLE BLACK BOOK | 11

The energy and resources of professionals like you has made a lasting difference to the lives of disadvantaged young Australians in the last five years, helping them reach their true potential. Since 2007, the foundation has granted over $200,000 to 17 not-for-profit and charitable organisations across Australia with the support of FPA members.

Give a $10,000 helping hand in your community Is there a community organisation you know that is working to give disadvantaged young Australians hope of a better future? If so, you could help by supporting an application for a Future2 Make the Difference! grant.

Live Free Tassie’s Bob Engwicht (right) receives Future2’s $10,000 grant from FPA member Andrew Glover in Ellendale, Tasmania.

Read more about grant recipients and download the application form at: www.future2foundation.org.au/grants

After cycling 1250km and over $73,000 raised, the Future2 Wheel Classic Team arrive back in Sydney to be greeted by Lord Mayor Clover Moore.

Help us pedal towards a $100,000 target! For the third year, Future2 trustees are leading the charge to raise $100,000 by cycling over 1200kms in 9 days. The AMP Future2 Wheel Classic departs from Sydney on Saturday 15th September and arrives in Melbourne on Sunday 23rd. Cyclists can join for any part of the challenge. Register for 1, 2, 3 or even all 9 days of the event as a team or individual cyclist! Visit www.future2fundraising.org.au for details.

It’s easy to donate through your FPA membership A $20 tax-deductible donation to Future2 with your FPA 2012/13 membership renewal will allow us to make 16 more Future2 Make the Difference! grants. That’s help for hundreds more young people, for the price of a modest lunch.

Help us make Future2 the heart of the financial planning profession.


ABN 62 054 174 453 GPO Box 4285 Sydney NSW 2001

Members call 1300 337 301 Consumers call 1300 626 393

Phone 02 9220 4500 Fax 02 9220 4580

fpa@fpa.asn.au www.fpabestpractice.com.au


FPA Little Black Book - Autumn 2012