Speaking at an event in Sydney this week, which saw the opening of nominations for this year’s Female Excellence in Advice Award, Mr Fox said the introduction of awards such as this has paved the way for more women to join and become active within the AFA.
“AFA female membership has gone up from just under 22 per cent to now just under 30 per cent,” Mr Fox said.
“The AFA board of directors has nine members, three of [which] are women, including the president and vice-president. Women’s participation in [the] Adviser of the Year [award] has gone from one finalist in its first nine years to three successive winners.
”I am really proud of the changes that are being achieved,” he said.
Mr Fox added that the decision of some licensees to stipulate compulsory membership of a professional body for their advisers to improve professional standards has led to a spike in its membership numbers.
“For the first time, we will face the challenge of people that don’t necessarily want to be a member of the AFA,” he said. “If you haven’t wanted to be a member you don’t renew.”
Given that some advisers did not want to be a part of the association, Mr Fox appealed to AFA members to actively engage with each other to ensure no one sits “on the fringes” and to bring them “into the fold”.
