PRESS RELEASE – Minister Kelly O’Dwyer appoints Claire Mackay to Board of AFCA.

1 MAY 2018

We are proud to announce that Quantum Financial Principal Claire Mackay has been appointed to the Board of the Australian Financial Complaints Authority (AFCA). She joins the Hon Helen Coonan (Chair of AFCA), Erin Turner, Andrew Fairley and Alan Wein as the new appointments to the inaugural Board.

As a practicing financial planner, Claire will bring the perspective of small financial firms to the AFCA board as AFCA provides Australian consumers with a one-stop-shop for financial complaints for the very first time.

According to the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP

“I am delighted to today announce four further appointments to the AFCA board.”

“I am confident that each board member will make a valuable contribution to guide the new authority to ensure it delivers on its important mandate”

“Consumers and small businesses across Australia will benefit from the establishment of the Australian Financial Complaints Authority. AFCA will have expertise to deal with all disputes across the entire financial services industry, including superannuation and small business lending disputes.”

Per the Minister’s media release

“Ms Claire Mackay – a highly regarded financial planner. Ms Mackay will be appointed as an industry director. She will bring the perspective of small financial firms to the AFCA board.”

According to Claire:

“It is a great honour to represent the industry on the inaugural Board of the Australian Financial Complaints Authority. I have great respect for the integrity and professionalism of my fellow Board members. As an industry director, I will share the perspective and experience of small financial firms.

I thank the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP for the appointment and I look forward to playing my part in making AFCA a dispute resolution scheme that works for consumers, small businesses and the industry. I also thank my wonderful financial planning clients for their ongoing support.”

About Claire Mackay

Claire Mackay is a Director and a Principal Advisor at Quantum Financial in Sydney.

Quantum Financial, established in 1994, holds its own AFS Licence; has no ties to any financial institution; and offers a fully transparent fixed cost financial planning and SMSF service. In 2012 The NSW Business Council awarded Quantum Financial with the Excellence in Business Ethics Award.

In 2017 Claire was listed among Australia’s top 50 financial advisers by Barron’s/The Australian. In 2015 Claire was recognised by Money Management as Financial Planner of the Year; in 2014 Claire was recognised by IFA Magazine as Investment Advisor of the Year and awarded the Excellence Award in Advice. In 2013 Claire was awarded the Pro Bono Award, Women in Financial Services, by Money Management & Super Review.

Claire is a member of the ASIC External Advisory Panel, a Director of the Accounting Professional and Ethical Standards Board (APESB), a member of the Finance Audit & Compliance Committee of Surf Life Saving NSW; and a member of the CA ANZ SMSF Committee.

Claire is a member of the ATO’s Superannuation Industry Relationship Network as a superannuation and SMSF expert representing the financial planning profession. Previously Claire served a 4 year term as an industry representative on the Financial Ombudsman Service adjudication panels. Claire is a volunteer surf life saver at Manly Life Saving Club.

Claire is holds a Bachelor of Commerce (Macq), Bachelor of Laws (Macq) and a Master of Laws (Syd). She is a Chartered Accountant (SMSF and Financial Planning specialist), Certified Financial Planner and Chartered Tax Adviser. Claire graduated from Royal Military College, Duntroon as a Commissioned Australian Army Officer (Inactive) and is admitted to the NSW Supreme Court.

About AFCA (Australian Financial Complaints Authority)

AFCA is the new one-stop shop dispute resolution body for the financial system, governed by a board of 11 directors, consisting of an Independent Chair and an equal number of industry and consumer directors.

Media releases

You can read the Ministers two media releases online here: