The AIOFP ongoing political position over the past 26 years can be best described as a ‘swinging voter’.

Hi, please be advised of the following.

The AIOFP ongoing political position over the past 26 years can be best described as a ‘swinging voter’ where our support cannot be ‘bought’ but leased to the Political party that acts in the best interests of our members.

We have made it quite clear that if the selected party then acts against our members, we will change our position accordingly.

The concept of the ‘swinging voter’ is aligned with the dramatic drop in the primary vote of the ALP and Liberal Parties over the decades where their status is at historic lows of 32.6% and 23.9% respectively at the 2022 election [the addition of the LNP/Nationals primary vote increases the Coalition primary vote to 35.5%]. This has played out with the largest independent/minor party crossbench in the Lower House after the 2022 election results since 1934.

The concept of having ‘welded on supporters who blindly vote’ regardless of the quality or relevance of policies is diminishing.

This disillusionment with Politicians and the Canberra ‘bureaucratic swamp’ opens an opportunity for the Advice community and their clients to have a powerful voice in Canberra. It demonstrates the likely propensity of consumers to change their political allegiance if the policies directly affect them, an attitude Politicians are petrified about. The attached COREDATA survey confirms this trend.

The AIOFP has defied the traditional ‘fence sitting culture’ of other Associations by taking a position and holding Politicians and Parties to account. We have also clearly demonstrated that Political parties will ‘forgive’ justified negative past actions against them when elections are looming. The esoteric feature of the AIOFP that allows our stance is we only have one faction of members to represent – Financial Advisers – we are not trying to please or represent Institutions, Superannuation Funds or consumers groups.

The following information was sourced from Dr Jill Sheppard ANU Political Lecturer research paper titled 2022 FEDERAL ELECTION released on 20/12/24 and placed on the Parliamentary website –

‘Across the 2019 – 2022 electoral cycle, the Coalition Parties declared $262 million in expenditure, the ALP declared $216 million, the United Australia Party $131 million and the independent candidates [combined] approximately $21 million’.

These numbers are frightening and considering the many ‘imperfections’ of the AEC model it’s probably a bit light on! Obviously, the Advice community cannot compete with this expenditure BUT what we have is what these Political parties are striving for –loyal clients who will take notice of financial and political direction and suggestions.

This is our sectors overwhelming political advantage, we need to use it wherever possible to get the best outcome for Advisers and their clients. Politicians are now understanding the political clout we have with around 1.8 million consumers who are clients of 12,000 Advisers, especially in the marginal seats that will decide the election outcome.

The AIOFP will be seeking member financial support to assist our strategies by the end of January, you will receive a strategy paper to consider before participation.

As per our last request to Minister Jones after the Conference dinner in Canberra, we are seeking his agreement to the 4 major ‘Commandments’ Shadow Luke Howorth agreed to if elected to Power in 2025, these are –

  • Eliminate DIXON from CSLR.
  • Eliminate Consent and Opt – in Forms.
  • Return Risk to per LIF conditions.
  • Allow Advisers to use professional judgement when constructing a financial strategy.

The Minister’s response will assist our decision-making process on who the AIOFP will be supporting, the ball is firmly in his court.

HOWARTH DELIVERS THE HOLY GRAIL OF THE AIOFP TEN COMMANDMENTS. – AIOFP

Above is the link to our last paper on political strategy emanating from the conference.

Hope you had a successful Xmas and New Year period, the next 3 months will decide what type of future we will have over the next 3 years – needless to say, we need all Advisers to support the cause to be successful.

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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