IPA welcomes FASEA appointment

Dr Sanders will become the inaugural chief executive of FASEA on 18 September as it seeks to raise the education, training and ethical standards of financial advisers.

He is currently serving as chief executive of the Professional Standards Authority of Australia, a position held since 2012.

IPA chief executive Andrew Conway welcomed the appointment as an “excellent decision” and was looking forward to working with FASEA to improve trust and confidence with consumers in the financial advice sector.

“Considering Deen’s great work at the Professional Standards Councils, we believe FASEA is in safe hands particularly to guide the organisation through its commencement phase,” Mr Conway said.

“As accountants enter financial services, it is critical that appropriate professional and ethical standards are developed and applied to all providers of financial advice, for the benefit of consumers.

“The IPA looks forward to working with Dr Sanders and FASEA to ensure successful implementation of legislation to raise the standards of providing financial advice and to ensure consumers feel confident in their financial advisers.”

In his new role, Mr Sanders will aim to lift the conduct of professionals in the financial advice sector by setting mandatory educational and training requirements, developing and setting an industry exam, and creating a code of ethics to which advisers will be required to adhere to.