The Future of Financial Advice (FOFA) reforms begin today, and the Financial Planning Association (FPA) says its members are ready.

CEO Mark Rantall says the “Bulletproof Financial Planning” training initiative went down well with members, with record numbers taking part.

More than 3200 planners joined the internet sessions, while more than 11,000 viewed the online toolkit. About 1800 members attended regional roadshows.

“The FPA launched the campaign in response to research showing more than half of financial planners cited FOFA compliance as a main challenge,” Mr Rantall said.  

“We believe, from the overwhelming attendance figures and positive feedback we have received, our members are in good shape to comply with their obligations under FOFA.”

He urges FPA members to continue using the resources during the transition phase.

“With any changes to a profession, difficulties will occur. However, we will continue to support our members through this important time.”