Peter Johnston, reports on our preferred strategy and what policy objectives we will be pursuing.

Members have requested information on our preferred strategy and what policy objectives we will be pursuing.

Background– the very best time to get Politicians listening/acting and diluting the influence of Canberra Bureaucrats is leading into a Federal Election. This Election is particularly tantalizing with the polls being so close and a guaranteed bitterly fought contest that should give the Advice community leverage to meet our policy objectives.

Although we are currently disillusioned with Minister Jones performance over the past 2 years and pleased with the Liberals contrition over their past performance, we are still yet to decide on who we will be backing. The AIOFP elementary position over the past 26 years is to act in the best interests of our Adviser members and their clients, our political support can only be leased not bought. As we have done over the years, we will change support to those who support our members.

As we all know, actions speak louder than words, who we support will be decided by which party addresses our demands before the 2025 Election.

Methodology– We will be targeting the weakest link in each party, the marginal seats where most elections are decided. These are the Politicians who are at greatest risk of losing not only their seats after commonly only one term but their livelihood and risk being labelled a ‘failed politician’. These Politicians are also not part of the pre 2004 Super pension benefits cohort and most likely to harangue ‘headquarters’ the hardest about meeting our demands to save their own skin…..nothing like self-interest to motivate people.

We will be inviting a number of these marginal seat Politicians from both sides to attend our Parliament House conference dinner on November 25^th where we will be educating them on what should be done to lower the cost of advice for consumers. Fundamentally we are indicating that if they want us to support them in their marginal seat they must meet our objectives, otherwise we will be against them.

Our demands will be –

• The Dixon failure is removed from CSLR compensation and advisers refunded the payments.
• Industry conditions for Risk are returned to pre LIF conditions.
• The Consent Forms are abolished.
• 99FA legislation is aligned with Bernard Quinn KC recommendations.
• The SOA is replaced with a document based on an Adviser’s professional judgement.
• The current best interest duty and safe harbour conditions are maintained to protect consumers.

The winning side will receive the following benefits from the Advice community –

1. Adviser’s encouraging their clients to support the party that supports them by either voting directly for them or putting the losing side last on the ballot sheet.
2. The winning side will be financially supported with a donation from the AIOFP to assist their campaign.
3. Advisers will be encouraged to physically support the Politician throughout their campaign and assist on election day with handing out ‘how to vote’ cards.

The losing side will get the opposite. If a bipartisan outcome is achieved the side that supported us first will get the above benefits. It is time to be brutal with our decision making, this political window of opportunity only happens every 3 years, we must take full advantage of it to meet our objectives.

The marginal ALP seats we will be inviting are – GILMORE NSW Fiona Campbell 0.17%, LYONS TAS Brian Mitchell 0.92%, BENNELONG NSW Jerome Laxale 0.97%, HIGGINS Michelle Ananda – Rajah 2.06%, ROBERTSON Gordon Ried 2.27%.

The marginal Coalition seats we will be inviting are – DEAKIN VIC Michael Sukkar 0.19%, STURT SA James Stevens 0.45%, MOORE WA Ian Goodenough 0.66%, MENZIES Keith Wolahan 0.68%, BASS TAS Bridget Archer 1.43%.

When you consider each electorate is approximately 100,000 voters, a 0.17% margin is only 170 votes……that’s one Advisers client base, that is the power we can have.

Shortly you will receive an invitation to support the AIOFP’s political strategy by agreeing to increase your current membership fee contribution for 2024/25, being a member, this will be a tax – deductible payment.

Great news today around the CSLR/DIXON enquiry, will keep you informed on progress.