I recently had the pleasure of interviewing Ky Wilson from the Institute of Financial Professionals Australia (IFPA)
Good afternoon, Ky, and thank you for taking the time to speak with Knowledgemaster. Can we start by discussing the origins of the Institute of Financial Professionals Australia?
Ky: Of course. We are a 104-year-old association that has evolved from its original identity as Taxpayers Australia, and later as Tax & Super Australia. Our recent repositioning as the Institute of Financial Professionals Australia enabled our membership to expand from practitioners in tax and superannuation, to now also welcoming a new cohort of financial planner members.
This reflects our strategic vision to embrace all participants in the financial industry, especially those in small to medium-sized practices who often feel under-represented.
The rebranding sounds significant. Can you share why membership with your association is necessary for financial planners?
Ky: Certainly. The financial planning sector has been facing challenges and ambiguity, with many members of the industry feeling they have been provided limited support.
We intend to fill this gap, providing much-needed guidance and support. Our association aims to be a champion for all financial professionals, reflecting the convergence of the tax, superannuation, and financial planning sectors.
How does the Institute of Financial Professionals Australia plan to support planners?
Ky: We are committed to fighting for the future of planners. Our approach includes advocacy, providing resources, education, and community partnership outreach. We’re also focusing on practice management development and business value creation, covering areas that are often overlooked by other associations.
The repositioning of the Institute of Financial Professionals Australia seems strategic. Could you elaborate on how it sets you apart?
Ky: Absolutely, Jim. the Institute of Financial Professionals Australia’s rebranding and repositioning were strategic moves to reflect the industry’s evolving dynamics. As the first membership organisation to recognise this shift, we aim to lead the way in offering robust support to financial planners, and tax and superannuation professionals, creating a unified, resourced, resilient, and represented community.
What do you see in the future for the Institute of Financial Professionals Australia and the financial planning industry?
Ky: Our association envisions a future where financial professionals don’t just survive but thrive. We aim to foster an inclusive, responsive, and flourishing environment for practitioners through advocacy, education, innovation, and community engagement.
Thank you, Ky, for sharing the Institute of Financial Professionals Australia’s mission and vision with our readership. It’s clear that your role is vital in shaping the future of the financial planning and advising sector.
Ky: Thank you, for speaking with me
Jim, It’s always a pleasure to discuss our goals and the positive impact we aim to make on the industry.
