FPA reports membership increase, ups advertising
The Financial Planning Association of Australia has recorded $8.7 million in total income from members for the year ending 30 June 2015, up 5 per cent from last year.
In its annual report, the FPA also posted an after-tax surplus of $444,544, down 54 per cent from 2014. The largest expense was in employee benefits ($4.6 million), followed by conferences, events, program and education ($2.9 million).
Significant changes that occurred throughout the year and affected financials include an increase in member numbers and revenue, an increase in investing in advertising campaigns and an investment in the new customer relationship management system, which is now being amortised, the FPA said.
Meanwhile, membership increased by 5 per cent while CFP enrolments rose by 34 per cent.
The group's consumer advertising campaign, using the branding "It's all you need to know", generated a total of 37,000 online and 26,000 hits. Further, it reached 4.8 million online users while more than 4,000 consumer brochures were ordered.
"During 2014/15, we brought together more FPA members than ever before. This year's FPA National Roadshow broke records on many fronts. The event, which took place in 33 locations around Australia, attracted 3,000 registrations," the report said.
Perpetual profit sunk by $1.5bn outflows
Perpetual’s profit has fallen, with lower performance revenue and $1.5 billion...
IOOF results ‘an anomaly’: Morningstar
IOOF’s plunging profits are an isolated occurrence and the royal commission ha...
Conflicts of interest broader than product providers
Advisers need to consider managing conflicts of interest not just with product p...