The CEO of the AIOFP, Peter Johnston, says we think 2024 will be a ‘consolidation year’

Hi, we think 2024 will be a ‘consolidation year’ where the poor compliance issues will be resolved, new clients will be plentiful and the imposed unfair behaviour ‘shackles’ on our industry will be loosened.

This position is largely based on –

1. The Liberal Party realising they have alienated our profession over the last 10 years and now trying to mend bridges.
2. All politicians now appreciating the politically powerful relationship Advisers have with their clients.
3. And the race to the next Federal election has begun in earnest and it will be close.

This electoral phase is the only time to get Politicians to listen, their jobs and livelihood are on the line. All powerful ingredients to get bipartisan agreement for our ‘wish list’ before the next election.

With the elimination of the former FPA/AFA entities who we considered to be a captive of the Institutions, we are now prepared to cooperate with all Adviser focussed Associations to get the best political outcome for the Advice community and their clients. We initiated discussions with the key players late last year.

The AIOFP key 2024 objectives for Members are delivering scaled pricing product/services outcomes for boutique members and political outcomes for our larger Members, Boutique members [ie sub 50 AR’s] represent around 90% of our constituency.

Our latest negotiations with Financial Standard/Aspire group with their CPD platform is a great commercial outcome for boutique practices with substantial savings and a very comparable product to the dominant Kaplan platform. Kaplan refuse to deal with Associations preferring to deal with the larger practices.

We have also been informed Kaplan particularly don’t like the AIOFP due to our success with the Education Pathway legislation that stripped multi millions of revenue from their plans for older Adviser education……we can only say bad luck, we only care about Adviser outcomes.

Shortly we will release details around our CPD/PD package for members, it will be flexible, cost effective and interesting. In addition, the Certified Financial Strategist [CFS] designation applications will be open for members including the option of receiving new client opportunities from the AIOFP Corporate and Superannuation sector clients.

The next conference will be split between the HYATT REGENCY HOTEL in Bangkok and the brand new CROWN PLAZA in Vientiane Laos. This Hyatt has been voted the best hotel in 25 years and due to the travel difficulties reaching Vientiane in one day from Australia, we will spend 2 nights there then 4 nights in Vientiane flying out on MAY 30TH.

We suggest flying out on FRIDAY MAY 24TH into BANGKOK, free night then conference lunch/session from 1pm Saturday 25th. Welcome drinks at 6pm, dinner on the roof top then fly into Vientiane on Sunday 26th until Thursday 30th.

For those wishing to extend to MALTA we meet in VALETTA at 6pm for dinner on Saturday JUNE 1ST at the Excelsior Hotel, then depart on Tuesday 4th of JUNE.

We will be sending out a survey shortly asking you the question on whether you will be joining us. PLEASE note it makes it very difficult planning events when 75% of the delegates register within the last 30 days [like in Canberra…..], so please assist the cause by giving us an early definitive position.

To encourage early registration, we will be including a suite upgrade draw in the two hotels for the first 30 to register. These suites normally go to VIP’s and I can assure you they are bloody good!

Trust you had a great break.

Regards.