FPA referral deal with Cbus

The Financial Planning Association (FPA) has entered into an agreement with industry fund Cbus to pilot a referral service.

Under the arrangement, not dissimilar to earlier pilots run with dealer groups, planning practices registered as FPA Professional Practices which meet "select professional and geographic location criteria" will receive referrals from "eligible" Cbus members seeking financial planning services.

The FPA has announced the move on the eve of its National Congress, with FPA chief executive Mark Rantall saying it represents a significant and healthy step in the right direction.

Cbus chief executive David Atkin said the pilot referral service would allow members to access professional planning services delivered by Certified Financial Planner practitioners operating within an FPA Professional Practice.

VIEW ALL

View all

"This is an exciting step. And we look forward to rolling out the initial pilot scheme to Cbus members in Queensland, South Australia, Tasmania and the Northern Territory," he said.

Atkins said that, pending the outcome of this initial phase, there was strong potential for the program to become a national scheme for all eligible Cbus members.

Australia's largest industry fund AustralianSuper in 2011 entered into a pilot program with six financial planning dealer groups which it extended into 2012. Those dealer groups included Godfrey Pembroke, Matrix, Dicksons Advisory, Switzer, Woods and Partners Financial Planning, and Paul Moran Financial Planning.