The Institute of Financial Professionals Australia (IFPA) has entered into a strategic alliance with the Association of Independently Owned Financial Professionals (AIOFP) which will result in an expansion of professional development opportunities and joint advocacy efforts on reforms to financial advice.
IFPA chair Stephen Ware and AIOFP chair Professor Sarath Delpachitra jointly announced the new partnership and while is initially non-binding, the agreement will be governed by a mutually agreed Memorandum of Understanding.
Under the arrangement AIOFP members will have access to IFPA’s Conference and Expo in April which will feature dedicated superannuation and financial services content while IFPA members will be able to attend the AIOFP National Conference in August with its expanded program incorporating more tax-related issues.
Additionally, members of both organisations will have expanded access to a pool of other accountants and advisers from which to form partnerships to assist clients and IFPA members will be given entry into the AIOFP succession planning program.
The two bodies also stated they would like to improve their engagement with policymakers to advocate for reforms of the regulatory environment including reference to the inclusion of accountants to provide structural superannuation advice and the compensation scheme of last resort.
IFPA board member Scott Heathwold told selfmanagedsuper, “Independent financial professionals are the backbone of trusted financial advice in Australia, and this alliance ensures they remain supported, informed, and well-represented.
“Through this collaboration, we are providing members with enhanced education, broader industry connections, and a platform to drive real change in policy and regulation. Together, we are building a stronger more resilient profession, he explained.
Collectively, the two bodies represent 9000 financial advice professionals – with IFPA encompassing 4000 practitioners working in accounting, bookkeeping, financial advice, and superannuation among its membership and the AIOFP servicing 5000 financial advisers operating under 120 Australian financial services licence practice members.
