The CEO of the AIOFP, Peter Johnston, reports Disputes Mediation

At our December 2022 AGM members requested that the AIOFP Board and Management assists with any individual or practice members who are in potentially legal dispute with other individual or practice members with settling the conflict.

The AIOFP would in effect become a mediator of disputes between members, unfortunately a thankless, time consuming and essentially a potentially conflicted role where in the majority cases one party will not be happy with the outcome. Furthermore, in most cases it will involve the rule of law necessitating a legal opinion anyway.

The cost of legal action to settle any disputes in the Courts are ordinarily prohibitive with lawyers/barristers/KC’s charging many thousands an hour with a $30 – $50,000++ cost range common place for a very basic case.

We think there is a better way to cost effectively settle most matters.

Attached is a summary of a Mediation service the Board has requested from its long term Legal Counsellor Arwed Turon for your consideration. Arwed has been involved with the AIOFP from day 1, 25 years ago and been working in commercial law since 1976. Fair to say he is highly experienced in the financial services industry and a fair minded professional.

Arwed will be a guest speaker in Bangkok on the service, however it is available now if required. His contact is – 0412 153 836.

This approach to member disputes is consistent to our approach to poor member behaviour. The AIOFP does not want to get involved with any disciplinary action against members, that is for the ASIC and the Courts to decide. The AIOFP will only seek a member vote to expel poorly behaved members if they do not voluntarily resign.

This constitutional disciplinary aspect should be closely analysed and understood before joining any Association.


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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