The Financial Planning Association (FPA) – an organisation that has spent an enormous amount of time and effort promoting professionalism in the industry – has lost Professional Standards and Ethics Chairman Steve Helmich.

Mr Helmich, who is AMP Financial Planning’s Director of Advice Based Distribution, stepped aside from the position he has held for four years while the FPA examines AMP’s enforceable undertaking given to the Australian Securities and Investments Commission.

FPA spokesman Jason Spits told Sunrise Exchange News the FPA examination process, which is looking particularly at the need for further guidance to members on any issues raised, started last week.

He says the issues raised in the enforceable undertaking have broad relevance to all licensees and their representatives, and the FPA is encouraging members to look carefully at the document.

“The FPA will also be writing to AMP Financial Planning seeking further information with respect to FPA’s professional standards.”