APFA’s 2014 Annual Report and Accounts
22 October 2014
The Association of Professional Financial Advisers (APFA) has sent its annual report and accounts to members. The organisation has generated a surplus for the financial year ending 30 June 2014.
APFA produced a turnover of £797,842 during the year, creating a surplus of £29,253.
Chris Hannant, Director General at APFA, said:
“APFA has generated a surplus for the financial year through a continued focus on member recruitment and cost control. It is a pleasing performance in what continues to be a challenging climate for the advice profession, post the introduction of the RDR.
“APFA has sought to concentrate on its core lobbying activities, with less focus on supplementary member services supported by product providers. As a result, a greater proportion of our funding comes from member subscriptions; a direction in which we intend to continue.
“Developments in legislation, including the Care Bill and the changes to retirement income rules, mean that there are many opportunities for advisers to engage with new and existing clients, and to play a vital role in the success of the policies. As the sole representative body for the financial advice profession, we will work closely with members to ensure their voice is heard and that they have a regulatory environment in which they can prosper.”
ENDS
