Frontier Advisors has announced that director, Fiona Trafford-Walker has resigned from her role after a 25-year career at the firm.
Trafford-Walker would finish on 6 December to focus on her non-executive roles. She was one of the inaugural staff members and currently has three non-executive roles at Link Group, the Prospa Group, and Victorian Funds Management Corporation.
Trafford-Walker joined Industry Fund Services in 1994, when it launched an asset advisory business. She took responsibility for the management of that business in 1997. When it separated from its parent in 2000, Trafford-Walker became Frontier Advisors’ managing director.
Frontier Advisors chair, Gabriel Szondy, said: “Fiona’s influence on the industry has been profound and she can be proud of the impact Frontier has made on the retirement savings of millions of Australian workers”.
“There will be many legacies of Fiona’s time at Frontier but perhaps the one that will live longest will be the development of other industry professionals, who have moved through and remain at Frontier,” Szondy said.
“The importance of professional ethics and an ethos of fighting for your clients and their ultimate beneficiaries is something Fiona has instilled in the many people she has led at Frontier and this will continue to have impact for many years to come.”
Commenting on her departure, Trafford-Walker said her 25 years with Frontier were incredibly rewarding.
“I was privileged to work with some wonderful people, who made me better at my job and who collectively made Frontier a great place to work,” she said.
“A number of those people have gone on to have strong careers in the industry and continue to make a difference, and many remain at the firm today.
“I will always be very proud of our ability to develop practical ideas for clients that helped them achieve their goals and of the contribution we made to the retirement and investment outcomes of many everyday Australians.”
The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.