The Financial Planning Association (FPA) has made an impressive comeback from its $2 million deficit last financial year, announcing a $1.9 million surplus for the year to June 30.

In its 2005 annual report released last week, the association says its decision to exit the entry-level education market, combined with lower employee-related expenses cut its expenses by 32%.

“I am delighted to say that we ended the year with a significant surplus, a proportion of which the board committed to raising community awareness of the value of financial planning advice, and of the Certified Financial Planner designation,” CEO Kerrie Kelly said.

It’s been a tough year for Ms Kelly, who has had to help the financial planning sector recover from attacks on members’ professionalism.

The group also conducted a series of new projects during the period, including its value of advice TV ad campaign – which is receiving positive consumer feedback – the introduction of the FPA/Investment and Financial Services Association Code of Practice on alternative forms of remuneration, and draft principles on conflicts of interest.