FPA reaches out to industry super

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The FPA has struck a landmark agreement with Australia’s industry superannuation sector through a pilot professional referral service.

The pilot arrangement culminates months of collaboration between Construction and Building Industry Superannuation Fund (Cbus) and the FPA.

It means that FPA Professional Practices that meet professional and geographic location criteria, may accept referrals of eligible Cbus members seeking financial planning services.

“This is an exciting step,” said David Atkin, Cbus CEO.  “And we look forward to rolling out the initial pilot scheme to Cbus members in Queensland, South Australia, Tasmania and the Northern Territory.

“Pending the outcome of this initial phase, there is strong potential for the programme to become a national scheme for all eligible Cbus members.”

Cbus represents more than 700,000 industry and general public members, and serves some 80,000 employer groups.

Mark Rantall, FPA CEO said, “This is a significant and healthy step in the right direction for the financial planning profession. It’s a practical example of the on-going joint dividend that flows from choosing professionalism: good for Australian investors, good for the professionals who serve them.”

Rantall said the opening of collaborative pathways with Australia’s industry superannuation sector bodes well for the on-going future of all Australians and the professional CERTIFIED® financial planners who serve them.

  • James Smith on 16/10/2013 9:44:57 AM

    is this really such a positive step ? Is the basis of beng on the panel that you will keep the client invested in the C Bus scheme ? If so, is that not a conflict of interest ? In the 20 years that I have been advising I have never received a referral from an institutional fund manager that I have supported. I would have thought that it would be far healthier for advisers to obtain referrals from clients rather than institutions to ensure they hold institutions that they recommend accountable. It seems hypocritical that an industry fund movement that is so critical of links between advisers and institutions is now trying to create the same links ?

  • Rod on 15/10/2013 3:07:46 PM

    Fantastic a very positive step for all involved , Congratulations to all involved, great to see collabaration instead of planner bashing well done

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