Joining ASDAA means you’re more than a member of an energetic and forward-looking community of like-minded securities and derivative professionals. Membership brings opportunities not only in professional growth and development but also the growth of independently managed financial advisory firms.
Why the vast majority of ASDAA members own and operate their own financial advisory service firms
Because the Global Financial Crisis (GFC) made it abundantly obvious that the interests of large institutions aren’t always in line with the interests of the retail investors they purport to represent.
Public outrage was palpable after the GFC and resulted in FOFA (Future of Financial Advice), which became mandatory on 1 July 2013.
FOFA’s aim was to improve the trust and confidence of Australian retail investors in the financial services sector and ensure the availability, accessibility and affordability of high quality financial advice.
Recent systemic financial adviser failures at large institutional and retail firms and investment banks surrounding planning advice to retail clients has shaken public confidence yet again in the financial advisory sector.
The need for a new professional body
The Government of the day, in late 2015, has draft legislation before Parliament to raise education, training and ethical standards for financial advisers.
So now, more than ever there is a need for a new professional body:
- to help set the standards for the industry whilst ensuring that existing advisers are not pushed out of the industry which would be detrimental to the industry and clients through the loss of vital knowledge and skills
- to ensure the high standards the public expect and demand of financial advisers from the securities and derivatives industry are delivered and exceeded
- to help its members navigate safely this now highly-regulated sector of our economy
Why join ASDAA
It will soon be compulsory for anyone employed as a securities and derivatives adviser to be a member of a professional association.
It is vital before joining any association that you ascertain that it doesn’t:
- pressure you to attend expensive annual conferences with limited benefits
- insist on you completing costly and irrelevant education in the name of continuing profession development (CPD) hours
- favour large institutional and retail firms and investment banks over independent advisers
- levy hefty annual membership fees
If you want more from your association and less of the above – then please give consideration to joining ASDAA.
Be part of an association that values the individual and who believes that together, we can shape our industry for the betterment of advisers and clients.
Your clients will be secure in the knowledge that as an ASDAA member, you are guided by the best practice principles defined by one of Australia’s most active associations of professional securities and derivatives advisers.
Become a Member of ASDAAFind out more