The Association of Financial Advisers has announced a 60% leap in membership numbers over the last 24 months.
The Association has twice referred to its membership growth in recent releases – as part of its statement welcoming the return of the Coalition Government and more recently in an open letter to its members notifying them that nominations are now open for AFA Board elections.
This period of growth has been dominated by issues relating to the implementation of the Future of Financial Advice reforms and the sometimes heated debate surrounding the controversial new Life Insurance Framework reform proposals.
In its statement welcoming the return of the Coalition to power, AFA CEO, Brad Fox, noted: “The profession is at a transformational point in its evolution, with technological change and the adoption of new standards shaping its service offering…The AFA is in a growth phase, with membership up 60% over the last two years, and with strong inroads made in policy and advocacy, member engagement and with the media.”
AFA membership has now crossed the 3,500 mark…
Fox told riskinfo that AFA membership has now crossed the 3,500 mark and continues to grow. He also affirmed the vast majority of the Association’s 3,500+ members are adviser practitioners, most of whom operate through traditional dealer groups or ‘own AFSLs’, particularly within the independent adviser and licensee market.
AFA President, Deborah Kent, also made reference to the Association’s significant growth over the last two years in her message to members about the impending Board Elections: “The current Board of Directors has made a wonderful contribution over the past 2 years growing our membership by around 60%. I am very proud of the current standing that the AFA has within the financial advice marketplace with government and other parties, and our regulators. Even so, there remains enormous opportunity to continue growing our role in adviser development, professionalism and championing the value of advice.
Eight of the nine AFA Board positions are up for election and riskinfo understands most of the eight current AFA Board members whose terms are ending will be seeking re-election.