This month marks three years since the merger of the Association of Financial Advisers (AFA) and the Financial Planning Association of Australia (FPA) to form the Financial Advice Association Australia (FAAA).
Since then, the FAAA now numbers more than 10,700 members and has established a clear identity as the unified voice for professional financial advisers.
Reflecting on the milestone, FAAA chair David Sharpe CFP® said one of the most important outcomes has been the two organisations’ effective collaboration.
“Alignment across the board, management and member base meant the transition felt as though we had always been one,” Sharpe said.
“The foundations for this were laid before the merger, and the FAAA very quickly formed its own identity with members. Our communities have come together and created grassroots events and connections for members right across the country.
“With considerable challenges such as CSLR and confusion over AML/CTF – the benefit of a professional voice speaking for our members has never been more important.”
A unified voice with real influence
The release of the 2030 Strategic and Policy Platform outlines the FAAA’s key priorities across advocacy, professional standards and member support, and advocacy continues to be a core focus. Ongoing engagement with government and regulators has contributed to outcomes such as improved tax deductibility for upfront advice fees, reinforcing the importance of a strong, coordinated voice for the profession.
Former FPA chair Marisa Broome CFP® said bringing the two associations together created a stronger, more effective voice when engaging with government and regulators.
“The AFA and the FPA were more similar than different – and in fact shared well over 1,000 members. It made sense to join resources and be able to represent the majority of the professional financial advice sector,” Broome said.
L-R Phil Anderson, Sarah Abood, David Sharpe CFP, Sam Perera
Former AFA president Sam Perera said the decision to merge was driven by the need to ensure the long-term strength of the profession.
“Bringing the organisations together created a more resourced and capable association, better positioned to advocate for advisers and support their businesses,” Perera said.
Supporting advisers today – and building the pipeline for tomorrow
Over the past three years, the focus has been on supporting members and strengthening the profession. This includes building the pipeline of future advisers through initiatives such as the Advice Academy, launched in 2025, and the FAAA Careers Centre, which promotes opportunities across all stages of an advice career.
The Advice Ambassadors program has also played a key role, connecting advisers with federal parliamentarians to increase awareness of the value financial advice brings to local communities.
Member connection has continued to grow, with communities and events expanding across the country. These grassroots connections have been an important part of building engagement and ensuring they remain at the centre of the association’s activities.
Looking ahead in a changing regulatory environment
FAAA CEO Sarah Abood said the strong support for the merger reflected a clear message from members, with an overwhelming majority voting to create a single association to represent and guide the profession through ongoing change.
“It was a clear message that financial advisers wanted a unified membership body to represent them, support them and to navigate the ongoing legislative and regulatory change that faces the profession,” Abood said.
“We are proud to represent professional financial advisers and the great work our members do every day, helping Australians become better off financially and achieve their goals and dreams.”
While there has been strong progress, the environment for financial advice continues to evolve. The FAAA remains focused on supporting members through regulatory and legislative change, while continuing to advocate for settings that enable advisers to deliver for their clients.
As part of this ongoing focus, members will soon be invited to share feedback on their experience with the FAAA during the upcoming membership renewal period.
Images from the FAAA & AFA Combined Roadshow in early 2023 – bringing the two membership cohorts together for the first time.
