CPA Australia has signalled that it is looking to fill two senior roles after announcing plans to apply for an Australian Financial Services Licence (AFSL) and Australian Credit Licence (ACL).
The two positions – head of advice and head of operations – are being advertised via Seek.com.au. A spokesperson for the accounting body told sister publication ifa that the new roles represent “unique leadership opportunities”.
Having more than 15 years of AFSL/ACL experience and post-graduate qualifications in business, accounting or finance are key requirements for the Melbourne-based roles.
According to the job posts, the successful candidate for the head of advice role will be responsible for all aspects of delivery for advisers.
This includes overseeing the end-to-end financial advice process, advice policy and documentation, product research, advice coaching, advice service delivery and practice management.
“The successful candidates will not only have a central role to play in the long-term success of CPA Australia Advice but also in shaping the future of financial advice in Australia,” a spokesperson said.
“With an ethos of integrity and transparency built into its charter, CPA Australia Advice is committed to our clients’ best interest.”
For the head of operations role, the candidate should be able to “research and assess the best operational model to support the new entity and to deliver operational solutions to effectively enable operations of the business”.
CPA Australia has been inundated with expressions of interest since announcing plans to launch the advice arm.
The group’s chief executive, Alex Malley, said that currently 15 per cent of CPA Australia members (who total around 150,000) provide financial advice under a number of licensees, but extending the CPA Australia brand would further strengthen their presence.
“Some of those CPAs will be providing advice under other licensees and this is simply an alternative that young people coming into the sector will see as an impressive benchmark and will be given the option of being under the CPA banner,” Mr Malley said at the launch.
“CPA Australia Advice represents a game changer for financial advice in this country.”
Expected to be operational by 1 July 2016, the company plans to provide advice that is free of commissions, offering it on a fee-for-service basis.
CPA Australia said the intended ACL will permit the organisation to provide “credit advice and services to consumers such as mortgage broking advice”.