FPA posts $1.4 million surplus for FY12/13
The Financial Planning Association has reported strong results at the end of the financial year, pocketing more than $1.4 million and increasing net assets off the back of increased membership.
In a statement released today, the industry body reported a surplus of $1,413,047 for the 2012/2013 financial year, while net assets increased to $7,339,794 and liquid assets were steady at $15,020,341.
The results were attributed to “prudent expense management and a record increase in membership across all categories”.
Commenting on the results, FPA chief executive Mark Rantall singled out the membership drive in particular.
“We are pleased with the strong financial performance of the FPA and the fact we are on a firm footing for future growth. Equally, we welcome the strong and steady gains in our membership numbers. Planners are voting with their feet," he said.
“The numbers give us confidence for the future and will enable the FPA to consolidate its position as Australia’s pre-eminent destination for professional financial planners.”
Former CBA adviser permanently banned
The corporate regulator has permanently banned a former Commonwealth Bank-aligne...
Hayne devalued financial advice, says AFA
The Association of Financial Advisers has called out the Hayne royal commission ...
Brexit has inflicted serious damage, says advice CEO
Brexit has created unprecedented damage to the UK’s financial services industr...