The Financial Planning Association (FPA) says more than 1200 delegates attended its annual Professionals Congress event last week, its first in-person gathering in three years since the pandemic broke out in March 2020. 

One of the sessions with Michelle Levy, who is leading the Quality of Advice Review, generated a high level of interest, FPA CEO Sarah Abood says. 

Ms Levy has in her Proposals Paper suggested changes related to personal and general advice, and she is expected to submit her final report to the Federal Government by December 16. 

“Probably the most contentious proposal amongst planners has been the idea that product issuers would be able to provide simple personal advice in some circumstances,” Ms Abood said. 

“It has been encouraging to hear [her] acknowledge this concern, and the concerns of financial planners, and seek to address it in the review.” 

Ms Abood says the FPA backs many of the changes proposed that will simplify the delivery of advice and reduce the unnecessary red tape and duplicated compliance that currently bogs us all down. 

“It’s encouraging to hear that these proposals remain and are likely to be included in the final paper,” Ms Abood said. 

FPA announced at the two-day event that former chair Marisa Broome was a made a life member of the peak body, in recognition of her contributions to the profession. 

“[She] has been a driving force of the FPA for many years, and her recognition as a life member is very well-deserved,” Ms Abood said. 

“She was also an integral part of the Congress’s organisation, and its success, and on behalf of the FPA, I thank [her] for all her hard work.” 

FPA says next year’s Professionals Congress will be held in Adelaide from November 22-24.