The CEO of the AIOFP, Peter Johnston, reports on MORTGAGE BROKER SUCCESS.

Many Advisers over the past few years have questioned why the Mortgage Industry [MI] have been more efficient with their political lobbying than the Advice Industry [AI], there are mitigating circumstances but yes they have been better at and it is something we must learn from.

Please consider the following MI and AI differences –


  • The MI is largely divided into 2 components, the Brokers and the Institutions. The Institutions have not infiltrated the Associations.
  • They have 2 Associations containing only broker members that collaborate making it easier to deal with Canberra.
  • There is clear delineation between the Brokers and the Institutions.
  • There are 7456 Mortgage brokers in the market, that’s 3728 per Association.
  • Mortgage Brokers are relatively unknown and have little past ‘negative baggage’ issues that can be used against them.


  • The AI has suffered from Banks infiltrating the Advice process with vertical integration and infiltrating the Associations with buckets of cash to influence outcomes.
  • The AI industry has greater diversity of Adviser categories including SMSF, Stockbrokers, Risk Advisers and Investment Advisers through 13 different Associations of varying membership components and agendas.
  • There are around 17,000 Advisers, that’s theoretically 1307 per Association.
  • AI has been unfairly blamed for product failure over the decades leaving a stain over our industry. Up to 2020 it was politically fashionable to kick our industry – it is different now.


We have been counselled by many times by Politicians over the years that our industry needs to get its act together and have one consolidated voice. We agree BUT our industry has been a concoction of Advisers and Banks with different agendas and divided Associations at loggerheads, it was never going to work and will never work unless the landscape is changed and streamlined.

Having 13 Associations in a diminishing market all trying to be relevant to their members is impractical and diluting our collective influence in Canberra. This must change and only Advisers can do it by joining Associations that will act in their best interests and stand up when it counts.

The AIOFP has recently proven we can lead the way in Canberra with negotiating outcomes and are seeking support of the Advice community to join and back our strategy.

We need your help to send this email to any Adviser you know and encourage them to join the AIOFP.


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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