Financial Planning Association (FPA) CEO Kerrie Kelly will be the new Executive Director of the Insurance Council of Australia (ICA). She replaces Alan Mason, who Sunrise Exchange News revealed in September is retiring.

Ms Kelly’s appointment was announced last night by ICA President Mike Hawker. She will take up the role on April 3 next year, with Mr Mason staying in the role until then.

“Kerrie brings with her considerable experience, in particular the instrumental role she has played in policy formulation and improvement of member services for the financial planning industry,” Mr Hawker said. “We look forward to her future contribution to the insurance industry as we work to develop and progress good public policy for our sector.”

The appointment will see Ms Kelly leaving the FPA six months before her contract is due to expire. But new FPA Chairman Corinna Dieters seems untroubled. She told Sunrise Exchange News yesterday morning that the association has hired a recruitment firm to find a new CEO and that she’s “confident there will be plenty of talented candidates out there to fill the role”.

“We’re very grateful to Kerrie for all the work she has done at the association,” she said. “There are key issues we’ve made headway with and we’re committed to moving forward on those.”

Ms Kelly has previously held a number of executive and director roles, including National Director of the Trustee Corporations Association of Australia, a director of the NSW Roads and Traffic Authority and management roles within ANZ Banking Group. Ms Kelly was also recently appointed as a board member of the Australian Government’s Financial Literacy Foundation Advisory Board.  

Ms Kelly told Sunrise Exchange News she is pleased with what she has achieved at the association. “I’ve achieved a lot and have returned the FPA to financial stability. I’m grateful to the tremendous staff here as well as the association as a whole.”

Ms Kelly, a lawyer, came to the FPA in November 2003 at a time when industry observers said the association was close to disappearing as an industry body.

In the past two years the association has experienced a high management turnover as it underwent a significant restructure. During her tenure, Ms Kelly raised the planning industry’s profile and most recently launched a major TV and print ad campaign.

She recently responded angrily to harsh criticism of planners by Australian Securities and Investments Commission executive Sharman Grant, who said she didn’t have a financial adviser “because I just don’t trust them”.

At the time Ms Kelly said her comments were inappropriate and showed a total lack of objectivity that “slurred the integrity of all advisers”. Subsequently, Ms Grant’s scheduled appearance at the FPA’s national conference was cancelled.

In similar style Ms Kelly defended planners when entrepreneur Richard Branson called advisers “self-interested” and “greedy” when he launched Virgin Super in Sydney. “If his ill-considered statements, that do not reflect the reality of the regulatory requirements that now operate in Australia, put people off getting financial advice, then his approach is dangerous and not in Australia’s interest,” she said.

Mr Hawker was effusive in his praise of Mr Mason, who has spent the past nine of his 36 years in the industry as ICA’s Executive Director.

“Alan has made a significant contribution to the Australian insurance industry,” he said. “Alan first joined ICA in 1990, and has led the council on a variety of industry and government regulatory and policy issues since that time. The ICA board would like to wish him all the very best for his retirement.”