At annual general meetings held in Melbourne last week, members of the AMP Financial Planners Association (ampfpa) and the Hillross Advisers Association (HAA), voted to merge and form The Advisers Association Ltd (TAA), a united body that will represent advisers of both licensees.
Neil Macdonald, who was CEO of both ampfpa and HAA, will remain as CEO of the merged association.
Mr Macdonald said the new association will continue an over 95-year history of representing members and supporting them as they help clients get better outcomes. It will also give them one voice in these challenging times.
“It is important to remember that despite the headlines, collectively, the vast majority of our members have provided sound, cost-effective financial advice to hundreds of thousands of everyday Australians over a very long period of time.”
Mr Macdonald said members have made a significant, positive difference to the lives of their clients and in many cases, their advice has also resulted in lessening the burden on Australia’s social security system.
“It is therefore very important to us, as we navigate this difficult period in our history, that our members are treated with dignity and respect, and that their voices are heard,” he said. “The merged association will allow for a more uniform message to be delivered in ongoing negotiations with AMP and when communicating with the broader financial community, the media and the government.”
Mr Macdonald said it is in everyone’s best interests to enable financial advisers, so that they can efficiently continue to deliver sound, cost-effective financial advice.
“If advice ultimately becomes unaffordable and inaccessible it could be financially disastrous for Australia. It is therefore imperative that Australians continue to have access to face-to-face, consumer-focused financial advice,” he said.
About The Advisers Association (TAA) The Advisers Association Ltd (TAA) is a non-profit, member-based association, with a primary role to represent its members. Members are all authorised representatives of AMP Financial Planning (AFSL 232706) and Hillross Financial Services (AFSL 232705). TAA also works closely with the Charter and New Zealand adviser associations.