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FPA reports membership increase, ups advertising

The Financial Planning Association of Australia has recorded $8.7 million in total income from members for the year ending 30 June 2015, up 5 per cent from last year.

In its annual report, the FPA also posted an after-tax surplus of $444,544, down 54 per cent from 2014. The largest expense was in employee benefits ($4.6 million), followed by conferences, events, program and education ($2.9 million).

Significant changes that occurred throughout the year and affected financials include an increase in member numbers and revenue, an increase in investing in advertising campaigns and an investment in the new customer relationship management system, which is now being amortised, the FPA said.

Meanwhile, membership increased by 5 per cent while CFP enrolments rose by 34 per cent.

The group's consumer advertising campaign, using the branding "It's all you need to know", generated a total of 37,000 online and 26,000 hits. Further, it reached 4.8 million online users while more than 4,000 consumer brochures were ordered.

"During 2014/15, we brought together more FPA members than ever before. This year's FPA National Roadshow broke records on many fronts. The event, which took place in 33 locations around Australia, attracted 3,000 registrations," the report said.

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  • <p>FPA and AFA have been paid the blood money by there sudden increase in forced memberships by our product manufacturers (Banks etc), and this will go down in history as how an association started by advisers was the reason for the demise of the independent adviser, through incompetent management that spend more time having weekly award ceremonies instead of doing what we paid them for, maybe the clawback should be on them.</p>
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  • <p>Amazing what a boost to numbers institutions can provide to the FPA by mandating professional membership. <br><br>not a true reflection on the fpa, who you&amp;#039d think would offer some useful support to the Adviser during the last 10 years, We could have used it during the GFC, or numerous legislative and industry changes since.. <br>Just another case of the institutions funding a self interest group to support their continued messing up of the industry to the longterm detriment of their own members</p>
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