AIOFP awarded MDRT association status

The Association of Independently Owned Financial Professionals has been given recognition by trade association the Million Dollar Round Table as a recognised professional association.

In an email seen by ifa, MDRT’s membership services confirmed to the AIOFP that it has given it approval as an MDRT professional association.

AIOFP manager of member services Ray Bailey told ifa that one of the criteria was that it needs to have at least 100 adviser members, and that the approval happened on 8 June.

Mr Bailey said he had encountered people who wanted to retain their MDRT membership and also join the AIOFP, but couldn’t due to its lack of accreditation.

“For a period of time, some potential members had indicated to us that they wouldn't join because, to be a member of the Million Dollar Round Table, they mandate that you have to be a member of a professional association,” Mr Bailey said.

“The only two in Australia that were accredited are the AFA and the FPA.”

Advertisement
Advertisement

Mr Bailey said he hopes the MDRT accreditation will allow the AIOFP to increase its membership.

In addition, he said the AIOFP has also applied to the Tax Practitioners Board for professional recognition.

“Those two things, if were successful in both, we think will significantly increase our membership potential,” Mr Bailey said.

AIOFP awarded MDRT association status
AIOFP awarded MDRT association status
ifa logo
Adrian Flores

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.