Financial planning foundation, Future2, plans to loosen its ties with the FPA and move towards operating as a stand alone business.
"While the FPA is absolutely intricately and intimately involved, we also want to see Future2 have a wider reach, so the trustees do operate slightly independently," FPA chief executive Jo-Anne Bloch said.
Future2 is now at the stage where it has the right structure in place to become more independent, foundation chairman Terry Power said.
"We'd like to get to a stage where we are self-dependent and over a period of time can build up [funding] and distribute say 50 to 60 per cent of that per year and produce a regular income," he said.
Made up of an investment committee, grants committee, marketing and fund raising group, and a projects and grants group, the foundation will be working with members of each of the FPA's Australian chapters on a list of potential new grant ideas.
"Our next stage is to get out to our chapters and take the story directly to them. We're asking the chapters now for the list of grants, they have until the end of July to submit them. We're looking at a new range of grant applications," Power said.
Future2 also plans to work with financial planning dealer groups in the hope they will consider the foundation as a charity at their national conferences.
To date, Future2 has made three grants in Adelaide, Brisbane and Mildura.
