AFA first choice for younger advisers

In its eighth year, the Association of Financial Advisers’ (AFA) GenXt initiative has had a dramatic effect on the membership demographics of the AFA with around 30% of the AFA’s adviser members now under 40 years of age.

AFA CEO Brad Fox says that is proof that the AFA has become the association of choice for advisers developing their careers. “The formula for creating outstanding financial advice requires a combination of technical and interpersonal skills. We have made a significant investment, through the GenXt initiative, in helping our members to embrace their own professional development. We have spent time and effort to find out what they want – it’s to get noticed, get inspired, get connected, get mentored and get smart – they are the future of advice.”

Over the last two weeks, the AFA GenXt National Roadshow attracted over 1,300 advisers across the six capital cities. Mr Fox said the attendance and feedback from the events proved that advisers are embracing the AFA theme for the year: Connecting Knowledge with Performance.

“The feedback we have had from the AFA community over the past couple of weeks, is that they really value the opportunity to come together face-to-face to learn from their peers and share ideas with one another. This is exactly what the GenXt community of practice is all about,” he said. “As an association we have created a feeling of vibrancy, of being connected and enthusiastic, driven and confident. Attendees feedback consistently includes comments about the sense people have of feeling involved and included – a real sense of community.”

Peter O’Callaghan, financial planner at MSI Taylor Financial Services and 2014 AFA Excellence in Education Award winner spoke about the impact of knowledge on performance.

“Having spent two weeks on the road with Peter, he is a firm advocate of advisers constantly developing their interpersonal skills and their ability to truly connect with clients as this enables the client to truly embrace strategic recommendations as their own. This is essential to successfully articulate a valuable service proposition as their trusted adviser,” Mr Fox said. “It is the combination of professional development, formal and informal education and more effective client engagement that is fundamental to being able to connect knowledge with business performance.”

Ben Budge, Director of My Wealth Solutions and 2014 AFA Rising Star of the Year, gave advisers invaluable tips about motivating staff, improving efficiencies and the practical outcomes of connecting knowledge with performance. In his presentation, Mr Budge also paid particular attention to the role of mentors in his success as an adviser. “The AFA has a great mentoring program available. It is important to work with people with different personality types to really give you the support, strategy ideas and motivation to deliver consistent service and value to clients. I can’t stress it enough, it contributed significantly to my confidence in being able to innovate new ways for my clients to reach their goals,” Mr Budge said.

Participation in the GenXt community of practice is included as a member benefit to all AFA members seeking personal development and improvement of their advice skills.