The Association of Financial Advisers (AFA) has increased membership 28% this year as the organisation once populated by life insurance agents opens its doors to a new generation of financial planners.

AFA CEO Richard Klipin told insuranceNEWS.com.au the organisation is targeting the under 40s with nationwide “Gen Xt” roadshows in a bid to up membership levels.

The AFA has opened four new NSW chapters as a result, taking its national total of corporate members to 23.

Mr Klipin says the association has been forced to adapt to reflect a changing membership.

“In the last few years we’ve been in rebuild mode,” he said. “We’ve gone from being dominated by insurance agents, to [reflecting] the tremendous growth in the financial planning industry over the last decade.”