Whilst the 2022 change of Government has been a pleasing outcome for the Advice community, the AIOFP is concerned the Institutionally aligned lobby faction [Institutional lobby] is still actively trying to tilt industry outcomes in the Institutional sectors favour. We don’t believe the current Bank rhetoric around having no interest in wealth management is credible, […]
Read More
EXECUTIVE SUMMARY The Political lobbying process can be best described as an ongoing targeted strategy that needs constant evaluation to achieve a clearly defined set of objectives. It is far more than just having articles in Industry magazines, it is about timing, leverage and influence with the key decision makers who determine policy outcomes that directly affects […]
Read More
THE FADDEN FAVOUR. The 2022 Federal Election was a great outcome for the Advice Community, we saw the end of a draconian Liberal led Government, the political end of our nemesis Frydenberg and an incoming ALP Minister who ‘gets’ our industry. What is not commonly understood however is that unless the ALP won the 4 […]
Read More
Prepared by AIOFP Executive Director Peter Johnston JULY 2023. Executive Summary. The AIOFP believes Minister Stephen Jones has created a once in a generation financial services landscape opportunity to implement meaningful change that will benefit all stakeholders. Please consider the AIOFP’s recommendations to create a credible and workable outcome for all participants. There are […]
Read More
This paper follows ‘THE OTHER REFERENDUM’ document distributed on 15/5, it has a more detailed look at the FPA/AFA merger ‘scoreboard’ which does the FAAA no favours. It seems the new FAAA Board expects Advisers to either forgive the ‘old’ FPA/AFA entities for cooperating with the Liberal Party to implement such devastating anti – Adviser […]
Read More
On Tuesday April 4TH AIOFP DIRECTOR Garry Crole, AIOFP TECHNICAL ADVISER Lionel Rodrigues and AIOFP EXECUTIVE DIRECTOR Peter Johnston met with the 5 person QAR Treasury team in Canberra to discuss the future direction of the Financial Advice industry. We are very pleased to say that the QAR Team are genuinely pragmatic and open […]
Read More
Isolation, scale and new client opportunities are 3 challenges facing new AFSL Holders to maintain a profitable practice business model going forward in today’s market. At our recent AGM members reported that ASIC are now processing AFSL applications within 7 weeks, a pleasing outcome for those who want to venture down the self – licensing […]
Read More
The greatest lesson I have learnt over the journey is if you stay true to your clients and always act in their best interests you will eventually succeed despite some often short term pain. I experienced this in 1989/90 and again recently. In the last week we had contact from Treasury about seeking the AIOFP’s […]
Read More
The AIOFP supports Minister Jones’ decision to seek a third – party expert opinion on Ms Levy’s QAR Report, regardless of how long that may take. The Financial Services industry is a very complex and gordian environment, the next Ministerial direction is critical to consumer protection, industry structure and pricing going forward, the Minister must […]
Read More
The AIOFP has reiterated its disapproval of the Quality of Advice Review. In a statement made available to ifa, the executive director of the Association of Independently Owned Financial Professionals (AIOFP), Peter Johnston, said the body is “unashamedly and unapologetically” representing the best interests of advisers in opposing the Quality of Advice Review (QAR). Mr Johnston’s […]
Read More