Dear Parliamentarian, some information you may find useful to understand our Profession and its nuances.
ASSOCIATION BUSINESS MODEL CHANGE.
Market forces and headwinds will change the way not – for – profit Adviser focussed Associations operate in 2026 and beyond. Recent ATO changes to tax status, the Adviser profession losing circa 50% of its constituents over the past 10 years and too many Accounting orientated Associations trying to infiltrate the Advice Profession will necessitate and force change to Association business models.
To further acerbate the ATO influence, consumers encouraged to deal directly with the ATO over standard tax returns is negatively impacting Accounting Associations membership, they are subsequently trying to enter the Adviser profession to bolster numbers.
The exit of Banks from the Advice space has been profound for Associations that relied on their in – house Adviser membership fees and generous sponsorship. The impact on the FPA/AFA was eventually terminal.
Considering Adviser numbers have effectively halved and we still have the failed JAWG entity with 9 Associations involved, something has to give. Please note we refused the invitation to join JAWG from the outset.
Total Adviser numbers dictate only 2 Associations should be representing our Profession in Canberra, this outcome should please all politicians! We will be politely asking all the fringe Accounting Associations and Institutional players like the FSC/ABA to stay out of Adviser affairs, they are not wanted or needed.
The AIOFP will now return to its 1998 foundation business model of assisting members with White Label platform alternatives and creating new client opportunities. The intention is to generate alternative income streams to assist its funding whilst simultaneously creating benefits for Members and their clients.
Regards.
Peter Johnston | Executive Director
Association of Independently Owned Financial Professionals
Suite 416, 480 Collins Street, Melbourne VIC 3000
P 1800 111 203, d 03 9863 7574, m 0418 857 621
www.aiofp.net.au | Download my business card
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