Shock resignation at AFA

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The Association of Financial Adviser’s (AFA) CEO has been lured away by the offer of a plum job at a Big Four institution.

Current CEO Richard Klipinwill be leaving the AFA in February next year to take the helm at ANZ-owned licensee millennium3.

“Richard has led the AFA on a remarkable journey of transformation over the past seven years. He has built the AFA into a strong adviser association which leads the market with its clear and authentic advocacy work, its ground-breaking GenXt platform which has nurtured the future leaders of advice into the industry, and its powerful, collaborative community that draws together all parts of the market place,” said AFA National President Michael Nowak.

“The AFA now has a strong national board, robust committee structures and working groups, a strong media voice and partnership offer, engagement with all parts of government, regulators and stakeholders, as well as a growing presence in education.”

Klipin said that, after seven years as the AFA’s CEO, it was time to make the difficult decision to pass on the baton.

“I leave with a great sense of pride. The passion, professionalism and the culture of the AFA community is outstanding, and I know that the future is in great hands,” he said.

AFA Treasurer and immediate-past President Brad Fox will step in as interim CEO.

“The AFA is well respected by all stakeholders. We are involved in all issues impacting advice, advisers and consumers, and we are known for our clear, consistent and authentic voice in all the key debates,” he said. “Richard will be missed, but his legacy will endure.”

Moving on

ANZ’s head of practice based financial planning, said that Klipin had played a significant role in leading industry discussion on the importance of advice in Australia and that ANZ was pleased to have appointed him as the new CEO of millennium3.

“In this role, Richard will have responsibility for further strengthening millennium3’s position in the advice industry and guiding the business through transformation as it works through significant regulatory change,” he said.

Mr Klipin’s appointment also provides millennium3 with a valuable succession opportunity and continuity as it sets up for the future.

Current joint MDs Barry Martin and Darryl Foster will be staying on as dealer principles, with Martin continuing to focus on adviser development and recruitment and Foster working as the group’s chief operating officer.

“millennium3 is a well-established business with a unique insurance heritage and I look forward to supporting our advisers take advantage of the opportunity that will come from the changing advice landscape,” said Klipin.

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