Financial Planning
United front but no merger: AFA

The Association of Financial Advisers has rebuffed the possibility of a merger with the Financial Planning Association of Australia but acknowledged the two bodies are increasingly recognising the strength of a single voice and a single message.

Speaking to media at the AFA National Conference, Bineham said the theme of this year's conference was developed largely on the back of the work the AFA has been doing with the FPA in recent months, including the joint taskforce on life insurance and lobbying Senator Jane Hume in Canberra.

Consistent with that, FPA chief executive Dante De Gori attended the conference - the first time a sitting FPA chief executive has done so.

However, he said there will be no merger of the associations.

The two associations are getting far better at collaborating when there's a common cause, he said.

"And we've been getting terrific feedback from members and even from Senator Jane Hume on that and it's the same for Dante - they're telling us this is long overdue," he said.

He added that it's a logical move given the AFA and the FPA represent about 70% of Australia's financial advisers.

Appearing at the FSC Summit earlier this week, De Gori didn't rule out the possibility however, saying any merger would be up to the members of each association.

"We've rebuilt, if you like, a relationship with the AFA in particular about working a lot more closely together and [that's] very important," he said.

"From a merger perspective, that's a decision for members. I never say never, but at the moment it's about trying to ensure that that relationship and that engagement bears fruit."

Read more: FPAFinancial Planning Association of AustraliaAssociation of Financial AdvisersJane HumeAFA National ConferenceDante De GoriMarc BinehamFSC Summit
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