Recent financial results indicate the Financial Planning Association (FPA) is on the rebound from a period of financial hardship. Predicting a return to budget surplus for this financial year, the association has indicated results for the first half of the current financial year are looking good.

“Membership revenues at the half year tracked close to budget, with operating expenses being held below budget,” according to FPA spokesman Susan Grice.

The FPA reported a $2 million deficit in 2004, attributing it at the time to “income shortfalls” and the cost of maintaining an expanded education program to get financial planners over the line for the introduction of the Financial Sservices Reform Act.

A stronger trading position has allowed the FPA to make progress in the second half of this financial year on a number of member service initiatives.

The association’s 2004 convention generated net revenue of more than $1 million, against a budget of $706,000.