AIOFP executive director Peter Johnston said the association wants to expand on its lobbying success and encouraged all advisers to support its Adviser Political Strategy framework.
“The AIOFP is inviting the entire advice community, whether AIOFP members or not, to consider participating in all or part of our Adviser Political Strategy (APS) framework to consolidate and accelerate our rising influence in Canberra,” Mr Johnston said.
“It is time for the advice community to put petty industry politics aside and focus on what can be achieved leading into the 2025 federal election.”
In his opening address to the AIOFP conference in July, Mr Johnston said the Fadden result and a swing back to the Liberals have done the advice community a “huge favour”, adding in a new statement that it is “only the first step of a process we all need to participate in to get desired policy outcomes over the next 18 months”.
“The most politically powerful weapon the advice community has in its armoury are their clients and the commercial/political relationship advisers have with them, that’s what all politicians now fear and underestimated leading into the 2022 election,” he said.
“It should be clearly understood that our 2022 Kooyong marginal seat strategy and outcome has unsettled Canberra, what should be noted however is it can be used in any seat and against any political party at the time of our choosing.
“This is what disturbs all sides of politics, it is therefore critical to continue with subtle posturing to remind and intimidate all stakeholders of our power.”
Mr Johnston added that while the AIOFP has been “overweight” on the Labor Party in the past few years, there was little choice.
“The Liberals had an immoveable and uncompromising adviser culling agenda against the advice community led by the Frydenberg faction. With Frydenberg’s political demise and the now realisation by senior Liberals of their past mistakes, we will seek dialogue with the Coalition leading into our November 2023 Canberra Conference,” he said.
“The AIOFP role is to develop and maintain relationships with key people in government and equally as important those in Treasury who assist and research decision-making rationale. This is the engine room of government that drives policy direction and the AIOFP has a seat at this powerful table for the first time in its 25-year history.”
In addition to his calls for adviser unity, Mr Johnston laid out the AIOFP’s APS framework, consisting of five key points.
- The very first step is to seek direction from advisers on the five most important issues they want resolved or introduced over the next 18 months. This will be done by a survey within 30 days.
- Once this list of demands (LOD) is agreed upon, it can then be used by all advisers to engage with their clients on how they will benefit from its direction. Keeping clients informed and engaged is critical to the overall strategy.
- Advisers should then engage with their local federal member at their electoral office with the LOD in hand delivering a powerful consistent message around the nation backed by clients.
- We will then use the LOD at the November AIOFP Canberra conference to put it directly to the minister and shadow spokesperson seeking their position and support on what the advice community and their clients want.
- Advisers’ support of an “election fund” will greatly assist our political standing in Canberra, the fact that we have one (regardless of its known content) will intimidate.
“This strategic direction will put pressure on all sides of politics leading into the 2025 election to listen and act on what the advice community and their clients want or suffer the consequences,” Mr Johnston said.
“It is important our narrative emphasises advisers are consumer-centric and always acting in their best interests.”
This is what we want: Allow us to provide advice in exactly the same way as accountants do and stop treating us as crooks. All the crooks have left the building and threaten those still lurking with jail-time if they get caught with their hand in the till.
This guy has a short memory….it was only a couple of months ago he sent an email to members saying “Advisers with Degrees whinging about education standards being lowered are not welcomed…in his association” The AIOFP is for the dregs of the advice community that want to return to 1989 and the glory days of 110% upfront Insurance commission.
So what is it Michelle Levy is recommending non relevant providers providing advice – paid for by the product manufacturer – that stuff is pre 1989 I believe Michelle?
This is not true. As for the “Glory Days” of 110% what is your solution to the current risk insurance disaster?
the UK had to return to over 200% commissions to try and kick start the insurance industry off life support
I’m packing my bags, hello UK. Best of luck, ASIC, AFCA, Mr Jones, et al.
Obviously you do not understand the commission system and the need to fund the advisers business.
In the course of that not having to charge fees to the consumer.
Has the 10 year rule even been passed yet? Was the 10 year rule extended to 1 January 2026 the same year that you are required to have a degree by? (also it should include any disciplinary action up to 2026 as well) If you have a degree in a related field, are you also excluded doing the 1 unit of ethics? AIOFP is counting its successes before they’ve hatched…
How did his last call for other groups to come together and lobby go? Seemingly no update in this latest message suggests that it went no where. I wonder why?
It is interesting to hear the AIOFP make a statement that ‘it is time for the advice community to put petty industry politics aside’. Coming from the entity that has happily thrown insults at all other associations over many years, this is ironic.
Having backed a marginal seat campaign against the Coalition at the last election, does anyone really think that the Coalition will listen to the AIOFP? I think they know that they only account for a few hundred advisers.
At least the AIOFP stand up to government. The FPA’s sole strategy was to acquiesce at every opportunity.
You stick with the Flight Attendants Association of Australia – oops FPA?
This is new, find out what members want, work together, speak to your local member, support a fighting fund. Why had the rest of the industry not thought of this? Great work AIOFP, where do i join?
How on earth did people dislike this comment?
…because it had to do with AIOFP…
Well done- some common sense and maturity from AIOFP- which so far has been totally lacking int he erstwhile factions of the FAAA. To me, either Labour or Liberal works, if they will give advisers a fair go.