FPA Professional Practices

fpa professional practices | 1

you’ve taken your business

to another level.

Let peopLe

know.

fpa professional praCTiCes The path to greater recognition and respect

STAND

To continue to li� standards of professional advice.

Financial peace of mind.

Integrity. Unity. Making a di�erence.

Purposeful. Trustworthy. Energetic. Giving. Engaging. Encouraging.

�e FPA vision:

THROUGH our members we

STAND withAUSTRALIANSfor a BETTER �nancial

FUTURE.


Not all fiNaNcial plaNNers are the same.

Not everyoNe subscribes to

the highestethical & professional

standards,so it’s no wonder that consumers are confused,

not knowing who to trust.

If your business meets the criteria of professionalism as defined by the Financial Planning Association, you can now set yourself apart from the rest by becoming an FPA-accredited Professional Practice.

It sends a clear message to the community and your peers: yours is a high quality business, at the leading edge of the financial planning profession.

2 | fpa professional practices

LEADING THE FINANCIAL PLANNING PROFESSION

THE FINANCIAL PLANNING ASSOCIATION (FPA) REPRESENTS THE INTERESTS OF THE PUBLIC AND AUSTRALIA’S PROFESSIONAL COMMUNITY OF FINANCIAL PLANNERS.

We are unrivalled in our:• reach of the financial planning market • influence on government and regulators• standards set through our world-class Code of Professional Practice• unique position as the certification body in Australia for the global CFP® designation, and• reputation for quality professional development.

With more than 10,000 members and affiliates, of whom 7,500 are practising financial planners and a 20-year legacy, the FPA represents the changing face of financial planning, from industry to a profession.

�e FPA has five key roles to play:1. To represent professionals: to become a member of the FPA, financial planners need to meet

higher standards than the minimum levels required by law, so we represent the true professionals in the financial planning industry.

2. To advocate and advance the profession: we represent the collective voice of our members and their clients when lobbying government, the opposition, the regulator and other bodies.

3. To set and maintain high standards: we set and enforce professional and ethical standards for our members to make sure that they conduct business to the highest quality.

4. we are the only Australian body that assesses and awards the CERTIFIED FINANCIAL PLANNER® or CFP® designation, which is the highest certification available to financial planners worldwide.

5. To foster professional development: we design and o�er an industry-leading range of training programs to help financial planners keep their knowledge and skills up to date.


PARTNERING wITH LEADING ORGANISATIONS

To recognise The PivoTal role Played by qualiTy advice businesses in TransForming Financial Planning inTo a resPecTed ProFession, The FPa creaTed Two imPorTanT TyPes oF relaTionshiPs.

FPA ProFessionAl PrActiceThis is a financial planning practice that demonstrates the highest professional and ethical standards through adherence to the FPA’s Code of Professional Practice. The practice stands apart as a role model for financial planning in the community through the use of FPA Professional Practice branding.

FPA ProFessionAl PArtnerThis is an Australian Financial Services licensee that is recognised as a promoter of professionalism and a leader in the financial planning community. Professional Partners are committed to furthering the interests of the profession and consumers, and helping the FPA to shape the future of financial planning.


BENEFITS OF THE PROFESSIONAL PRACTICE PROGRAM

You’ll get higher client and community recognition – the use of FPA Professional Practice branding in your offices and on your business stationery will clearly identify you as a top quality financial planning practice. �e demonstration of the commitment by your practice to maintain the highest professional and ethical standards will set your business apart as a role model in the community.

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 CFP® professional status (or will meet that criteria within three years).

Your practice will become an ‘employer of choice’ – both future and current employees will be attracted by your standing as a Professional Practice.

The interests of your practice will be supported by the FPA through representation and advocacy, together with national consumer advertising, promoting the higher standards of FPA members.

PROFESSIONAL PRACTICE.........................................................................................................FINANCIAL PLANNING ASSOCIATION of AUSTRALIA

Your practice will gain access to new client opportunities – As an FPA Professional Practice, your practice will be invited to take part in a national referral program the FPA has implemented. Exclusive to FPA Professional Practices, the program is designed to connect Australians who need �nancial advice, with your best-of-breed �nancial planners.

BECOMING AN FPA PROFESSIONAL PRACTICE WILL DISTINGUISH YOUR BUSINESS AS A FINANCIAL PLANNING PRACTICE OF THE HIGHEST CALIBRE.


WHAT ARE THE ADVANTAGES OF BEING AN FPA PROFESSIONAL PRACTICE?

YOUR BUSINESS WILL BE IN THE DISTINGUISHED COMPANY OF OTHER PRACTICES THAT MEET THE SAME HIGH STANDARDS OF PROFESSIONALISM.

Your practice will receive • Contractual rights for your business to use the FPA Professional Practice logo.

• Access to Referral Programs.• Access to invitation-only events for Professional Practices.

• Priority contribution to Financial Planning magazine.

• Special rates for the CFP® certification program, ie 10% saving on FPA Professionalism (CFP® 1) enrolments.

• Special Professional Practice rates for the LRS® Life Risk Specialist designation program, saving 10%.

• Special Professional Practice rates for FPA events.

• Tailored CPD workshops designed to fit in with your programs and requirements, including specific programs focusing on our Code of Professional Practice and Ethics.

• 10% saving on FPA online CPD programs.


TAILORED PROFESSIONAL INDEmNITy INSuRANCE FOR yOuR PRACTICE

FPa ProFessional PracTices are inviTed To Take advanTage oF a brokerage service negoTiaTed by The FPa wiTh insurance broking Firm, Jardine lloyd ThomPson (JlT). The service oFFers ProFessional indemniTy insurance Tailored To The needs oF Financial Planning businesses.

WhAt cAn Jlt do For You?

• Advice on policy requirements relating to ASIC RG126 compliance, and assistance with meeting those requirements.

• Tailored quotation terms on your behalf.

• The best possible outcomes and premiums for your business.

• Access to underwriters who understand what it means to be an FPA Professional Practice.

• Access to a team that specialises in the needs of financial planning businesses.

• Other classes of insurance that your business may require (ie Directors’ & Officers’ liability, Office Pack, investment Managers insurance, Travel, Crime).

To find out more, contact JlT on 1300 655 931, at [email protected] or visit www.jlta.com.au.


BRINGING yOuR PROFESSIONAL PRACTICE TO LIFE

There are many ways in which you can incorPoraTe The ProFessional PracTice logo wiThin your business sTaTionery To clearly seT your PracTice aParT From oTher Financial Planning businesses in your communiTy.

in Your business stAtionerY And oFFice signAge:


Dear Sir/Madam,

Where a CFP practitioner belongs to an FPA Professional Practice, both the CFP logo mark and FPA Professional Practice logo may be used on the same communication piece.

Where the CFP logo mark and Professional Practice logo is used in the same document, a CFP practitioner must ensure that the Professional Practice logo takes priority of appearance on the document.

Yours Sincerely

Anton Wainwright CFP®

North Star Financial Planning is an FPA Professional PracticeNorth Star Financial Planning 123 High Street, Plannerville NSW2000 Australia

Aron Wainwright CFP®FPA Professional PracticeLevel 1 42 Planner Street, Plannerville NSW2000

T. (02) 9999 6626F. (02) 9999 6628M. 0400 123 645


123 High Street, Plannerville NSW2000 Direct 02 999 1234Mobile 0404 123 456

[email protected] Financial Planning

John SmithCFP®, B Com (Fin Plan)

Authorised representative of North Star Financial Planning



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on Your comPAnY Website:

BRINGING yOuR PROFESSIONAL PRACTICE TO LIFE


“ delivering consistent value and quality advice is team game in a financial planning practice. our Professional Practice designation tells our clients and colleagues that the financial planners at eureka are technically skilled, put the client first, and that we follow the professional code.”Greg Cook CFP® Eureka Financial Group

WhAt some oF our ProFessionAl PrActices hAve sAid:

“The FPA Professional Practice designation is a way of illustrating to clients the professional standards within our firm in a way that is marketable and easy for the consumer to understand.”Craig Green CFP®, Green Associates

“We greatly value the professional recognition and accreditation awarded to us by the FPA. We see it being the result of many years of doing the most professional job we can to assist, advise and guide our clients toward achieving their particular lifestyle and financial goals.”

Rob Pyne CFP® FFPA, HPH Solutions


RECOGNITION IN THE COmmuNITy

when your business becomes an FPa ProFessional PracTice, we will Provide you wiTh a media release To announce The newly aPPoinTed sTaTus oF your PracTice To The local communiTy.

We will also promote your Professional Practice to consumers on our ‘Find a Planner’ online directory. Find a Planner attracts over 2,000 visitors a month.


RECOGNITION AmONGST yOuR PROFESSIONAL PEERS

Wlm FinAnciAl servicesMatthew Walker CFP®“WlM Financial Services in Sydney is one of the first practices to achieve the FPA’s Professional Practice brand, something that has impressed existing as well as prospective clients,” said founder and director Matthew Walker.

“We wanted to continue the relationship we have with the FPA and we think the push towards the recognition of the industry as a profession is good. We all know that we need to raise the levels of professionalism and the credibility of the industry. Consumers are looking for it. if we can develop ourselves into an industry that has similar credibility to accountants, lawyers and doctors, it’s going to be good for everybody – industry participants and consumers alike.”

“We think the credibility and support that this is going to lend is money well spent,” he added.

tuPicoFFsNeil Kendall CFP®Tupicoffs in Brisbane was also one of the first financial planning practices to earn the new Professional Practice brand.

“One of the biggest challenges that we hear from potential clients is that they don’t know who to go and see,” he said. “Who they can trust is a continual issue for them. it was not just about the industry’s drive to professionalism, but about professionals within the industry being recognised as such,” neil Kendall said.

While there are obviously costs involved in getting the Professional Practice brand, as well as the five-yearly audits, neil believes the money spent was not significant compared to the benefits and the opportunities the brand afforded. He also noted that the costs were recovered if the brand attracted just one more client.

we showcase our ProFessional PracTices wiTh Pride Through ProFiling Them wiThin Financial Planning magazine.


YOUR OBLIGATIONS AS AN FPA PROFESSIONAL PRACTICE

To qualify for Professional Practice status, your practice will need to meet a number of criteria, including:

• 75% of your practitioners are FPA members; either Financial Planner AFP® or CFP® professionals• 50% of your practitioners are already CFP® professionals or will be within three years

of initial commitment • you commit to upholding the FPA’s Code of Professional Practice • you agree to conduct a three-yearly review to confirm adherence to the criteria described above.

HOW ARE WE GOING TO HELP YOU?We will of course provide you with high quality education, technical and practice management information and learning. We will also help you to keep the financial planners within your practice up to date on the FPA’s Code of Professional Practice, by bringing the Code to life in many of our initiatives.

WANT TO KNOW MORE?If you would like to find out more about the FPA Professional Practice program, please contact Rebecca Sullivan, Manager, Advice Partnerships:

BY P HONE02 9220 4517

BY [email protected]

OR VISIT www.fpa.asn.au/professionalpractice



abn 62 054 174 453GPO box 4285 Sydney nSW 2001

Phone 02 9220 4500 Fax 02 9220 4580

Members call 1300 337 301 Consumers call 1300 626 393

[email protected] www.fpa.asn.au

CFP®, CERTIFIED FInanCIaL PLannER® 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.

Documents

FPA Professional Practices