Recruitment of new members was a major contributor to the financial planning industry peak body's improved performance. Around 600 new memberships for the year ending June 30 2012 brought the FPA's ranks to more than 10,000 members.
The FPA also reported a 65 per cent increase in CFP certification program enrolments despite the introduction of a degree requirement to enter the program.
This increase means that 70 per cent of the FPA's CFP practitioner members are now degree qualified.
The unexpected result stands in contrast to the FPA's three year strategic plan launched in April 2011 which projected losses for three years.
"This surplus is two years ahead of the Board's expectation and reflects the judicious financial management of the organisation, coupled with increasing engagement with members and relevance with stakeholders," said FPA chair Matthew Rowe.
In last year's annual report, the FPA reported a record after-tax deficit of more than $500,000 and a 15 per cent drop in CFP enrolment revenues.
Other results of the 2012 annual report were significant member concessions as part of the Future of Financial Advice (FoFA) reforms, to restrict the use of the term 'financial planner.'
There was also notable success with the 'FPA Difference' advertising campaign which increased public awareness of FPA members by 14 per cent.
