Nearly 300 people joined the Association of Financial Advisers (AFA) in July, setting a monthly record for new membership, its chief executive said.
“About 290 new members joined in July,” AFA chief executive Richard Klipin told InvestorDaily.
“In terms of context of individual members, that represents growth well in excess of 10 per cent. It’s the biggest single month we have on record.”
The new additions lifted the number of individual AFA members to about 2300, Klipin said.
The AFA and the FPA, which has about 8300 planner members, both have strategies in place to expand their numbers, as well as the market for financial advice.
However, Klipin said the membership drive was only part of the story.
“The market and advisers have been looking for leadership, for direction, for a community that represents their voice,” he said.
“I think the AFA message has been resonating across the market. We’ve been talking the value of advice, the role advisers play in clients’ lives, and we’ve been taking that message to the market and to politicians.”
The AFA planned to continue its membership drive, he said, noting Australia had about 17,000 advisers.
“There are 15,000 potential members out there. Their voice needs to be represented. They all need to see value in joining a professional body,” he said.
