The Financial Planning Association (FPA) intends to change its membership structure to remove the vote from financial planning practices.

Under the new membership rules, professional planning practices that meet set levels of FPA membership and advisers holding Certified Financial Practitioner (CFP) qualifications will be able to use the association’s brand.  

Under the new rules only FPA individual members will have a vote on any issues.

Outgoing FPA Chairman Julie Berry says licensees may become FPA professional partners as long as at least 25% of their practitioners are association members.

“The changes are set out in a consultation paper for members which also outlines a proposal for marketing and advertising campaigns to raise the community standing of members,” she said.

“The paper also introduces a new brand identity and logo for the FPA to signify the higher professional standards of members and distinguish them from non-members.”

The membership moves will be decided at a special meeting on April 7 when 75% of the membership have to approve the changes.

Meanwhile, Adelaide-based financial planner Matthew Rowe has become the new FPA chairman at the association’s AGM, which was held at its conference on the Gold Coast last week. 

He is currently chairman of the FPA board’s professionalism and strategic planning committees and a member of the remuneration and succession planning committee.

Mr Rowe is the owner and MD of financial planning practice Hood Sweeney.

The FPA also announced this year’s winners of its Value of Advice awards.

Dennis Jones from Beacon Wealth won the Wealth Accumulation and Protection award, Charles Badenach from Shadforth Financial Group won the Pre-Retirement Planning and Post-Retirement Planning award, and Stephen Priestley from Professional Retirement Advice won the Management category.