Phil Anderson to retire at the upcoming FAAA Congress

The industry stalwart is closing the curtains on a stellar career in the financial services industry at the conclusion of the upcoming FAAA Congress in Melbourne.

FAAA general manager, policy, advocacy and standards Phil Anderson will retire on November 27 after spending much of the last 20 years dedicated to the financial advice profession, including in the advocacy against flaws in the Compensation Scheme as a Last Resort (CSLR) and advancing the Delivering Better Financial Outcomes (DBFO) reforms in recent years.

A recruitment process is underway for his replacement, the FAAA said.

Anderson boasts a 30-year career across different parts of the financial services industry and was most notable for leading the Association of Financial Advisers (AFA) as chief executive before merging with Financial Planning Association of Australia (FPA) took place in 2023 to form the FAAA. Prior to that, Anderson served in senior roles at AMP, NAB, Perpetual, Colonial First State, and Netwealth earlier in his career.

Commenting, FAAA chief executive Sarah Abood thanked Anderson for his dedication and service to the profession.

"Phil has made an outstanding contribution to the FAAA and to the financial advice profession that we serve. He has been absolutely tireless in shaping numerous important policy and standards outcomes, and building strong stakeholder relationships across government, media, and peak bodies as well as the broader profession," Abood said.

"His leadership as chief executive of the AFA was a key element in the successful merger of the AFA and FPA to create the FAAA. In his combined 13 years of service across both organisations, he has made a lasting positive impact for members.

"Phil has been a determined advocate for the financial advice profession for over 20 years... In all that time he has consistently promoted the value of financial advice and has been a fierce supporter of financial advisers and planners and the important work they do for their clients.

"On behalf of the board, executive team and staff, we thank Phil and wish him an extremely well-deserved relaxing time in retirement."

Anderson said it has been a privilege to advocate for the profession.

"Whilst we have faced a series of challenges along the way, from the Future of Financial Advice (FOFA) reforms in 2011-12 through to the substantial announcements by the minister last week, I am proud of what we have achieved together and look forward to following the FAAA's ongoing success," he said.

"Although I will be stepping back from full-time work, I am intent on continuing to contribute to the advice profession and ensure that it continues to prosper."