Financial Services Council appoints new directors, boosts financial advice focus

THE Financial Services Council (FSC) has appointed four new directors to the FSC board, two sourced from its funds management membership, and two sourced from a new, expanded membership cohort of financial advice businesses.

The new directors are Keith Cullen, WT Financial Group managing director; Neil Younger, Fortnum Financial Group managing director and group CEO; Esther Kerr, Australian Unity CEO for wealth and capital markets; and Andrew Creber, J.P. Morgan Asset Management’s Australia and New Zealand CEO. 

FSC chairman, David Bryant said FSC was the “leading voice in the superannuation, financial advice, investment platforms and funds management sectors”.

“The appointment of four senior industry leaders to the FSC board brings new depth of expertise to the FSC board and will further strengthen our representation of the industry,” Mr Bryant said.

In addition to the appointments, the FSC has welcomed new financial advice businesses to its membership “to deepen its engagement with the sector”.

Mr Bryant said this new model of engagement would add the advice licensees’ expertise to the FSC’s policy development processes and is coming at a critical time in the financial advice reform debate.

Advice licensees joining the FSC under this initiative include Count Ltd, Fortnum Private Wealth, Infocus, Otivo, Rhombus Advisory Pty Ltd and WT Financial Group.

FSC CEO Blake Briggs, said, “The financial services industry is at its strongest when it speaks with a unified voice on regulatory and policy issues that impact the sector and its consumers. 

“The FSC has a leading role unifying the industry on reform initiatives, and I am pleased to have this opportunity to appoint directors from the financial advice sector to deepen our engagement and strengthen our advocacy on advice issues.”

New director, WT Financial Group’s Keith Cullen said, “Delivering more affordable and accessible financial advice for Australian consumers is a priority for the FSC and the advice profession and I look forward to contributing to a strong, unified industry voice that ensures reform remains a priority for the Government.”

Fortnum Financial Group’s Neil Younger said he welcomed the challenge of his new role and an FSC director.

“At a pivotal time for the financial advice profession, I look forward to contributing the experience and insights of financial advisers and licensees to the FSC’s policy development, to help deliver a more efficient regulatory framework for financial advisers and their clients.” 
The appointment of two new FSC directors from the funds management sector reflects the FSC’s broad membership and representation of the industry, FSC’s Mr Bryant said.

One of those appointees, Australian Unity’s Esther Kerr said, “The FSC brings together an increasingly diverse set of businesses and perspectives from across the financial services industry, all focused on achieving sustainable, accessible and relevant products and services for our members.

“I am very pleased that my appointment provides the opportunity to share Australian Unity’s experience to help deliver policies that enable the financial wellbeing of Australian consumers.”

J.P. Morgan Asset Management’s Andrew Creber said, “Australia’s financial services sector is a significant contributor to the Australian economy, and I look forward to contributing to the important role the FSC plays shaping the national economic reform agenda.” 

FSC’s David Bryant said FSC’s ‘full members’ represent Australia’s retail and wholesale funds management businesses, superannuation funds, life insurers and financial advice licensees. FSC ‘supporting members’ represent the professional services firms such as ICT, consulting, accounting, legal, recruitment, actuarial and research organisations. The financial services industry is responsible for investing more than $3 trillion on behalf of over 15.6 million Australians.

www.fsc.org.au

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