Earlier this month, the associations held a media briefing to announce their intention to merge, where they said they'll seek feedback from their members first before inviting them to vote on the proposal.

The FPA's ‘Reunite, Reset’ congress will go ahead in Sydney on the 24th and 25th of November, which will tackle the many changes in financial advice, including updates on the Quality of Advice Review and a plenary session with FPA CEO Sarah Abood and chair David Sharpe, who will discuss the future of the association.

The news comes after Ms Abood appeared on the latest episode of the ifa Show podcast, where she explained why now was the right time for the FPA and AFA to merge, saying members of both associations asked the question during recent joint events.

 “… we've been approached on both sides by members at those events to suggest that they love to see us working together, and they would really like to see us pursue a merger,” Ms Abood said.

“So, in large part, members have driven this as well.”

Ms Abood added that pressing industry issues — such as declining financial adviser numbers — inspired the move.

“It has made us on both sides, I think, think really deeply about what is the best way to use members' funds and how can we ensure that our members are going to continue to be represented effectively,” Ms Abood explained.

“We can combine the resources of both the associations and really importantly, create a united voice and stronger advocacy for financial planners and advisers.”

The industry heads also confirmed that the “clear plan” for the new association will see Ms Abood take on the role of CEO, and Mr Anderson as the general manager.

The new association is expected to officially launch on 1 January 2023.

Listen to the full podcast with Ms Abood and Mr Anderson here.