The CEO of the AIOFP, Peter Johnston, reports on the THE POLITICAL POWER OF THE ADVICE COMMUNITY

Hi, the final 2022 Federal Election data is now out from the Australian Electoral Commission [AEC] after the recent finalization of the last Senate Seat to the UAP.

Based on the TWO PARTY PREFERRED [TTP] results, the raw numbers are 7,016,881 votes to the Liberal/Coalition and 7,642,161 votes to the Australian Labor Party, a swing of 3.66% or 625,280 votes to the ALP.

When you then look at the raw numbers of the Advice Community around the nation with their clients, it paints a potentially powerful political picture all Politicians [and Advisers] should be aware of.

The 2020 Adviser Ratings Report indicated that 11.2% of the voting population has an Financial Adviser, around 2 million consumers. With other Reports suggesting this number will double over the next 2 years with the nation emerging from the COVID pandemic and the predictions of the intergenerational wealth transfer, this figure is expected to reach 20% or around 4 million consumers seeking assistance from a Financial Adviser.

Considering the ALP won by 625,280 votes and the profound impact targeted campaigns can have on marginal seats [ie the seat of Kooyong], this strongly suggests Politicians need to now understand and appreciate the power of the Advice community in political terms.

It is expected this 20% number will be there by the 2025 Federal election.

The big mistake Politicians have made is the recent past is underestimating the powerful bond an Adviser has with their clients over any money related issue.

The last Coalition Government chose to believe that the Advice community had been damaged over the past 20 years by Institutions blowing up their own products which of course was a myth. ASIC allow these products onto the market and Institutions manufacture and manage them, nothing to do with Advisers and consumers to their credit understand that.

The message for the Advice community is to centralize our political power, do not let it be dramatically diluted by a poor choice of custodian of your political capital.


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

This message is presented as a service to our community. Knowledgemaster International (KMI) or its owners and employees are not a member of any group associated with the “sale of advice” profession, any regulatory bodies, product manufacturers or hold or supply any consultancies to any government instrumentalities or lobby groups. Any actions or inactions taken as a result of reading this message are the sole responsibility of the reader.