AFA Anderson positive about counseling profession

As financial advice moves away from implementing legislation and designing the profession in the future, Association of Financial Advisers (AFA) new CEO Phil Anderson is optimistic about the future.

Anderson said Money management He was happy to take on the broader responsibilities of being CEO and implementing what the association had agreed to work on for 2022.

Anderson was appointed CEO on January 4, 2022, after former CEO Helen Morgan-Banda stepped down after five months.

He said there was no doubt the counseling profession was facing challenges this year and that would be reflected in the number of counselors remaining after the January exam closed.

“But I think the positive thing we can take away from that is, yes the number of advisers will go down but the need for the value of advice will only increase and I think we can take a lot of comfort in the fact that the momentum started to change, ”he said.

“We have moved from this constant barrage of reforms that only increased the complexity and cost of advice to now both government and an opposition listening to the implications of reform on access and affordability.

“We can probably expect to see that momentum shift in the other direction as the pendulum swings more towards the middle, which will hopefully lead to a more conducive environment for the provision of financial advice and the efficient operation of businesses. financial advisory practices. “

Anderson, who was the association’s former CEO for Politics and Professionalism, would now have a broader mandate focused on operational activity as well as policy and advocacy.

“I really expect that I will remain very actively involved in policies, whether it is the education standard or the quality of the review of the boards, as these remain important goals for the AFA and myself, ”he said.

“AFA’s vision is to continue to play a vital role as the professional association of choice for our members to actively advocate for what is in the best long-term interest of the financial advisory profession, but also to meet the needs of our members. “

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