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Who is the FAAA?
As Australia’s leading professional association for financial advice professionals, the Financial Advice Association Australia (FAAA) advocates for the interests of financial advisers and their clients across the country.
The Financial Advice Association Australia (FAAA) was formed in 2023 following the merger of the two leading financial planning bodies in Australia – the Financial Planning Association (FPA) and the Association of Financial Advisers (AFA). With this merger, a new, united professional association that advocates for interests of financial advisers and their clients across the country was created. Today it is the largest association representing financial advisers in Australia.
We are committed to promoting the highest professional standards in the financial advice industry, advocating in the interests of both consumers and advisers, and helping all Australians achieve their financial goals. Our mission is to create a positive, professional, and collaborative home for our members that empowers them to help build a better financial future for Australians.
Members of the FAAA can access a range of professional development opportunities, networking events, and resources that help them stay up-to-date with the latest industry trends and regulations. They also have the opportunity to connect with like-minded professionals and contribute to the ongoing growth and development of the profession.
Our Vision
Our vision statement declares our meaning and purpose as an organisation and explains how the world will be a better place when we are successful.
“Great advice to help more Australians build a better financial future.”
Our Mission
Our mission statement outlines how we intend to achieve our vision.
“We support our Members to help Australians achieve a better financial future by:
-helping our Members to build successful, sustainable professional careers and businesses,
-advocating for increased access to professional financial advice and appropriate policy settings for the profession, and
-speaking out on issues that affect our Members and their clients.”
Our Strategic Priorities
Our MGL strategy will guide the FAAA until 2030, read the strategy document here.
M
Members first
As a member-based association, we prioritise Members’ interests and those of the communities they serve in all the activities of the association. We support our Members in their professional growth and business success.
G
Grow the profession
We must substantially grow the numbers of professional financial advisers, to enable more Australians to have access to high-quality professional financial advice.
L
Lead the profession
Be a bold, trusted and influential voice for the profession.
History of the association
The Financial Advice Association Australia (FAAA) was created in April 2023 following the merger of the Financial Planning Association of Australia Limited (FPA) and the Association of Financial Advisers Limited (AFA), two of Australia’s largest and longest standing associations of financial planners and advisers.
The FAAA unites the heritage of both associations and represents financial planners and advisers across Australia.
The FPA was formed in 1992 as a merger between The Australian Society of Investment and Financial Advisers and the International Association of Financial Planning. In 1999 it launched the CFP Professional Education Program, the international gold standard and highest certification available to financial planners worldwide. Leading into the merger with the AFA, the FPA represented over 10,000 members and worked towards changing the face of financial planning, from an industry to a profession that earned consumer confidence and trust, and advocated that better financial advice influenced the financial wellbeing of all Australians.
The AFA was a professional association for financial advisers that dated back to 1946 (existing in various forms and under various names). It had a long history of advocating for the best interests of financial advisers and their clients, through working with the government, regulators and other stakeholders. With a legacy of operating in the life insurance sector, it had substantially broadened its member base over a number of decades. The AFA’s focus was on promoting the value of advice and creating events and other opportunities to enable members to grow and share best practice.
These qualities of advocacy, education, and professionalism, from both the FPA and AFA, will continue to drive the work of the FAAA into the future.
