FPA sees rise in membership
|
|
The Financial Planning Association (FPA) has gained membership ground after a loss in numbers during the 2008-09 financial year.
The FPA has gained 750 new members so far this financial year, which takes the total membership base from 11,650 in June 2009 to 12,400. Membership varies between practitioners, students and general membership.
“The strong positioning of the FPA in representing commitment to professionalism is resulting in increasing confidence in the FPA amongst the financial planning community,” said FPA chief executive Jo-Anne Bloch.
Bloch said the FPA’s CFP program has also attracted a significant number of enrolments this financial year, with 286 students enrolled in CFP1, the first mandatory module on ethics, and 500 students in CFP5, the final assessment module.
Some 300 of the 750 new members are general members, which compares favourably to last financial year’s membership statistics, which saw a drop in general membership from 3,324 to 2,927 at June 30, 2009.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
