CORPORATE GOVERNANCE

Introduction

Financial Advisers Australia Group and its related bodies corporate (collectively, Group) is committed to creating long-term value sustainably through improving the financial well-being of our customers and communities.  FAA is focused on strengthening its governance to achieve better customer outcomes.

The Corporate Governance Statement describes the key governance arrangements and practices of the Group.

Culture

FAA is focused on shaping a more accountable culture that supports the achievement of goals of both individuals and businesses, but also drives decisions that are lawful, ethical and responsible, and that lead to better customer outcomes.

Purpose and values

FAA’s purpose is to improve the financial well-being of our customers and communities.  Our values are:

• Respect.
  We believe respect is a fundamental part of the service we provide to our network, employees and clients alike. Our team of specialists understand that everyone has different dreams and aspirations. We acknowledge that our differences are what makes us unique.
• Trust.
  We place the network, employees’ and clients’ interests first by tailoring our service offerings to their individual circumstances. We provide the relevant information and education to place them in the best position to make informed decisions for their future. We place a high level of importance on privacy and confidentiality. Network, employee and client information is protected and maintained in such a manner that allows access only to those who are authorised.
• Confidence.
  Network Specialists are committed to providing a high level of service, complimented by experienced professionals. When delivering our professional services, we set clear expectations and consistently provide quality outcomes in a timely and thorough manner with a focus on effective communication.

Policies

FAA’s policies play a central role in setting decision-making rights and conduct expectations across the Group.

• Code of conduct
  This Code sets out expectations for how we act, solve problems and make decisions. Our Code of Conduct describes the standards of conduct we expect. The Code connects our Purpose, Values Expectations (with a ‘Should We?’ test) and key Group Policies to help us to deliver the right outcomes for all our stakeholders.
• Conflicts of interest
  FAA Conflicts of Interest Policy is designed to ensure that actual, perceived or potential conflicts of interests are identified, managed or prevented.  The policy outlines the organisational and administrative arrangements that have been put in place to support the identification and management of conflicts of interest.

Stakeholder Engagement

FAA is committed to providing better outcomes for customers, earning back the trust of communities, responsibly rewarding our people and delivering sustainable, long-term value to shareholders.

Customers

FAA engages with customers in numerous ways, including through customer feedback and complaint channels, surveys and workshops, customer representative bodies, and external dispute resolution bodies.  Customers can also contact us via phone, electronically or post.

The Group has a customer advocate function to strengthen accountability for fair customer outcomes and offer a more customer-oriented approach to the Group’s business.

Our people

The Group recognises the value of a diverse workforce. The Group is committed to creating and maintaining an inclusive workplace culture that will provide sustainability for the organisation into the future.

This commitment is articulated in the Group’s Diversity and Inclusion Policy and extends to all areas of our business, including recruitment, talent development and identification, appointment to roles, retention of employees, promotions, performance assessment, mentoring and coaching programs, flexible work arrangements, forms of leave available to employees, succession planning, learning and development, and the Group’s other policies and procedures.