The Financial Planning Association (FPA) is consulting its members on a new discussion paper examining the future of the financial advice industry over the next five years.

The paper considers the affordability of advice, how advisers interact with clients, and the general health of the profession. The paper will help shape its new policy platform, to be released next year.

The FPA last released a white paper on the future of the advice industry in 2014. That helped create its 10-point plan for raising standards among financial planners.

FPA CEO Dante De Gori says the platform will give the FPA an opportunity to lead the conversation about the future of financial advice.

“We must look to the future and evolve our vision for the financial planning profession over the next five years. Feedback from members will underpin our policy and advocacy work so that we can promote new reforms that will benefit Australian consumers and financial planners alike,” he says.

The FPA will also host a webinar for members on December 3 at 1pm to walk through the details of the paper.

FPA members will be asked to provide their views on the paper over the next four weeks through the FPA Community, a new peer-to-peer online platform on which advisers can share views with each other and form new professional connections. There is a variety of online groups for members to choose from, based on geographic location or special topics.

Mr De Gori says members wanted a safe, confidential space to network with other members across the country.

The app is available across all platforms.