SIFA aims to reverse membership slump

SiFA (formerly the Society of Independent Financial Advisers) currently has 50 members, compared to about 100 in 2006 and 2007 before the industry was buffeted by tough market conditions and a new regulatory regime.

Chairman Robert Oddy said the organisation is aiming to get that number up to between 100 and 150 and it will be focusing its attention on Authorised Financial Advisers who aren’t currently part of any membership body.

The future of SIFA was a hot topic at its conference in Auckland this week, with a closed-door session for members reportedly generating a vigorous debate on the best way forward for the organisation.

Diversified director Norman Stacey, a long-time SIFA member, said a wide range of views was put forward and this was to be expected due to the “independent thinking” nature of the organisation’s members.