A united voice for the profession

AFA and FPA members vote 'YES' to merger

On Tuesday 28 February 2023, members of both the Association of Financial Advisers (AFA) and Financial Planning Association of Australia (FPA) voted in favour of the proposed merger of the two associations at Extraordinary General Meetings held in Sydney.

The name for the new entity will be the Financial Advice Association of Australia Limited – We will more generally be known as the Financial Advice Association Australia (FAAA- pronounced F triple A).

This is an exciting milestone for the financial advice profession. By combining these two longstanding reputable associations, the new entity will be a powerful force in advocating for advisers with Government and regulators. The combined resources will also unite our Advice community under the one organisation, and provide superior services and support for members.

The association will have a single national (not federated) transitional board of 12 directors, made up of eight directors from the FPA board, and four appointed from the AFA board. For future director election cycles, eligible members of both associations will be entitled to stand for election. After the three-year transition period, the board would reduce to nine.

What are the benefits of the merger?





Professional Standards

Member Support Services

A stronger unified voice for financial planners and advisers supports our advocacy goals.

Access to a wider range of resources, clarity on designations and more resources for CPD.

More ways for members to engage with each other and with their association to receive the support they need.

More scale, frequency and resourcing.

Supported through greater resourcing.

More scale and resources to deliver greater services to members.


Mid May 2023

Transfer invitations issued to AFA members

26 June 2023

Transfer invitation closing date

July 2023

Windup of AFA structures, another EGM to windup the AFA and appointment of a liquidator

Frequently asked Questions

Will my FChFP or ChLP designation continue to be recognised?

Yes, the FChFP and the ChLP designations which were previously offered by the AFA will continue to be recognised and supported, although not available to new applicants. The primary designation of the FAAA will be the CERTIFIED FINANCIAL PLANNER® (CFP®). FChFP and ChLP will continue to be listed on digital certificates and badges and on the global register. 

What happens to AFA fees paid beyond 30 June?

Any AFA member that has paid membership fees that extend beyond 30 June 2023 will receive a credit for that period against fees payable to the FAAA, this will be shown on the payment section in the FAAA member portal.

What happens if I am due to renew my membership between now and when the merged entity begins?

Members due to renew between March and June 2023 will be invoiced on a pro-rata basis up to 30 June. Their original AFA join date will therefore be retained within the new entity.

Do I need to update my professional association with ASIC / on the Financial Advisers Register (FAR)?

The FAAA team are working directly with ASIC to implement this change post 1 July 2023.

ASIC has agreed to update the professional association membership status for advisers who are members of the FAAA as of COB Friday 11 August 2023 at no cost to licensees, provided the adviser is ‘current’ on the FAR when the update is made by ASIC on 14 August 2023.

Members who renew AFTER this date will need to arrange with their licensee to update their records individually and pay the standard change fee. To take advantage of this one-off global update, make sure you have completed the renewal/transfer process by COB Friday 11 August and remain current on the FAR during the week commencing 14 August 2023.

Will my fees for membership change?

For most AFA members, the merger means a reduction in their membership fees.  For all other members, including FPA members, fees should remain unchanged. 

Further questions

If you have any further questions please email merger@afa.asn.au.