Merry Christmas to Peter Wilson. When it was suggested that Peter Wilson should be independent of the old board so that we can have a fresh start Peter responded with "That's your issue". Summary of the meeting here: viewtopic.php?f=23&t=594
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Alex Malley's $5.7m dud CPA financial advice venture _ afr

Issues at CPA Australia needing investigation and/or review.
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Andrew North
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Joined: Thu Jun 08, 2017 3:43 pm

Alex Malley's $5.7m dud CPA financial advice venture _ afr

Post by Andrew North » Thu Jun 08, 2017 5:43 pm

My letter to Alex Malley of 10 February 2016. He had Keddie Waller ring me and say a few words to the effect "we have it right" so thanks for your letter.
She did not want to reply in writing. I demanded a written reply.
The above letter from Jeff Hughes is the evidence that the executives of CPA Australia do not want sole practitioners and small practices to provide financial services advice. In essence they are forcing the agenda against sole practitioners, such as myself. I am a financial adviser as well.

The message is the sole practitioner is not capable of running a financial services practice.

I find that offensive.
Last edited by Andrew North on Thu Jun 08, 2017 6:19 pm, edited 1 time in total.

Drain_The_Swamp
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Re: Alex Malley's $5.7m dud CPA financial advice venture _ afr

Post by Drain_The_Swamp » Thu Jun 08, 2017 5:53 pm

It is not just that CPA Advice is an expensive dud, which anyone who went to the launch could have predicted, but on a more general level, why is a professional services organisation competing with its own members who either work for or have their own AFSL? Imagine if the Law Society set up its own legal practice to provide jobs for lawyers or the AMA established its own medical centre?

CPA Advice is a solution in search of a problem.

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nakedadmin
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Re: Alex Malley's $5.7m dud CPA financial advice venture _ afr

Post by nakedadmin » Thu Jun 08, 2017 6:46 pm

Hi Drain_The_Swamp,

Turns out you are correct. This just in:

http://www.afr.com/business/accounting/ ... 608-gwn07e
"The conflicts of interest arising from the relationship between CPA Australia and CPA Advice are significant, and mean that CPA Australia cannot be regarded as a body which represents the interests of the relevant occupational groups, for the purposes of the definition of 'occupational association' in s. 4(1) of the NSW PS Act," the Crown Solicitor told Mr Kean.
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nakedadmin
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Re: Alex Malley's $5.7m dud CPA financial advice venture _ afr

Post by nakedadmin » Thu Jun 08, 2017 6:51 pm

http://www.afr.com/business/accounting/ ... 608-gwn07e
It [Professional Standards Councils] raised concerns about CPA Australia 18 months ago, and has been following reports raising questions about governance of the Melbourne-based organisation.
How much negative feedback do you need???
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Drain_The_Swamp
Posts: 27
Joined: Tue May 02, 2017 8:33 am

Re: Alex Malley's $5.7m dud CPA financial advice venture _ afr

Post by Drain_The_Swamp » Fri Jun 09, 2017 9:09 am

nakedadmin wrote:
Thu Jun 08, 2017 6:46 pm
Hi Drain_The_Swamp,

Turns out you are correct. This just in:

http://www.afr.com/business/accounting/ ... 608-gwn07e
"The conflicts of interest arising from the relationship between CPA Australia and CPA Advice are significant, and mean that CPA Australia cannot be regarded as a body which represents the interests of the relevant occupational groups, for the purposes of the definition of 'occupational association' in s. 4(1) of the NSW PS Act," the Crown Solicitor told Mr Kean.
CPA Advice raises serious questions about CPA's managerial competence and points to an inadequate knowledge of the law and the financial services industry. It needs to be shutdown now before any more money is urinated up against the wall.

Drain_The_Swamp
Posts: 27
Joined: Tue May 02, 2017 8:33 am

Re: Alex Malley's $5.7m dud CPA financial advice venture _ afr

Post by Drain_The_Swamp » Fri Jun 09, 2017 9:27 am

Andrew North wrote:
Thu Jun 08, 2017 5:43 pm

The above letter from Jeff Hughes is the evidence that the executives of CPA Australia do not want sole practitioners and small practices to provide financial services advice. In essence they are forcing the agenda against sole practitioners, such as myself. I am a financial adviser as well.

The message is the sole practitioner is not capable of running a financial services practice.

I find that offensive.
Fantastic post and thanks for taking the effort to do so. This kind of pat-on-the-head, we-know-what's-best-for-you style is all too typical at CPAA which is primarily focused on sustaining their own bureaucracy. That's why they've built up that gigantic hollow log of cash. The interests of sole practitioners and small firms is just an irritant to them.

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