According to a statement issued by the organisation, around 30 per cent of its adviser members are now under 40 years of age.
AFA CEO Brad Fox said young advisers were attracted to the organisation by the GenXt program, designed to promote professional development and networking.
“We have made a significant investment, through the GenXt initiative, in helping our members to embrace their own professional development,” he said.
“We have spent time and effort to find out what they want – it’s to get noticed, get inspired, get connected, get mentored and get smart – they are the future of advice.”
He pointed to the GenXt Roadshow, which attracted over 1,300 advisers, as evidence that the organisation was building a “real sense of community”.
“As an association we have created a feeling of vibrancy, of being connected and enthusiastic, driven and confident,” he said.
AFA Rising Star of the Year 2014 award winner Ben Budge – who is also the director of My Wealth Solutions – credited AFA’s mentoring program with his success as a young person in the advice industry.
“I can’t stress it enough, it contributed significantly to my confidence in being able to innovate new ways for my clients to reach their goals,” he said.
Dave, if you re-read your post I think you will find that the answer is clear. Change Licencees or better still, get your own AFSL. You’ll find it’s not as expensive or cumbersome as you are led to believe. And the best part is that you have ultimate control of your own business (within the ASIC parameters of course!). Liberate yourself, drop the FPA if that’s what you want and your business with thank you for it.
Sounds great, but the FPA have me over a barrel as I MUST continue with them in order to retain my CFP status, which my licencee require me to have, albeit without any contribution towards my membership fees…