The CEO of the AIOFP, Peter Johnston, reports on 10 YEAR EDUCATION PATHWAY RULE

Some members have asked how this piece of legislation evolved and its genesis over the last 8 years, the following process occurred in chronological terms –

  1. 2014/15 the LIF/FASEA Legislation intent became obvious that the Liberal Party wanted to cull advisers from the industry.
  2. The FPA/AFA/FSC chose to support Minister O’Dywer’s LIF/FASEA position and the AIOFP opposed it.
  3. AIOFP had two meetings with the Minister but to no avail, they had already made up their mind on culling Advisers.
  4. Member Pam Anderson who has ALP links suggested we met with the Financial Sector Union to align support.
  5. In early 2017 Ray Bailey and myself met the FSU in Sydney where former NSW Premier Hon Nathan Rees was National Assistant Secretary, we entered a strategic alliance with the FSU and encouraged AIOFP members to join.
  6. Nathan took a delegation of female members to meet with the influential Tanya Plibersek in Canberra to start the alignment with the ALP which was very successful [Comrades Anderson, Hunt and Yilmaz did a great job]. Members Lionel Rodrigues and Garry Crole has continued this work with meeting Treasury in recent times.
  7. In 2018 we met with Liberal back bencher Bert van Manen who strongly suggested we educate all Politicians on the Liberal culling process, which informed most on what they had actually voted on! We acted on that advice which has helped the industry.
  8. 2019 Nathan Rees moves from the FSU and joins METLIFE as the Government Relations person – a master stroke by METLIFE management.
  9. Nathan has high level ALP contacts which have been instrumental in assisting the advice community, no need to say anymore.

Minister Jones announced the 10 year rule at our 2021 Hunter Valley conference and has recently delivered exactly what he said he would do.

Nathan will be presented with AIOFP LIFE – TIME MEMBERSHIP at the 25th Anniversary conference in Bangkok, his support has been invaluable to the Advice community and the AIOFP – may it continue!


Peter Johnston | Executive Director
Association of Independently Owned Financial Professionals
Suite 1211, 1 Queens Road, Melbourne VIC 3004
P 1800 111 203, d 03 9863 7574, m 0418 857 621 | Download my business card

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