The Financial Planning Association’s (FPA) accounts for the past financial year reflect a challenging period for the people it represents.

In the latest annual report, revenue for the 12 months to June 30 is quoted at $12.2 million, down 13% on 2007/08, while the net surplus of $214,538 compares with $512,714 the previous year.

Contributing to the result were falls in revenue from conference and seminars (25%), Certified Financial Planner enrolments (37%) and contributions from principal members to the Association’s Value of Advice campaign (47%).

Interest income was down 20% to $146,128. During the period the FPA reduced expenses by 10% to $1.2 million, while revenue from membership subscriptions rose 3% to $172,940.