CFA Society Members voted YES
to form CFA Society Australia

 

Members of CFA Society Melbourne and CFA Society Sydney voted in favour of the proposed merger of the two Societies to form CFA Society Australia at the 2023 CFA Society Annual General Meetings on Tuesday, 21 November in Sydney and Wednesday, 22 November in Melbourne.

Members of CFA Society Perth voted in favour of CFA Society Perth to join CFA Society Australia as a Chapter at their 2023 Annual General Meeting on Monday, 18 December.  

This marks a significant milestone for CFA Society Melbourne, CFA Society Perth and CFA Society Sydney, symbolising progress as we unite under one brand with the collective strength of one membership, bringing together around 3,500 Australian investment professionals.

 

Coming together to form CFA Society Australia means: 

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Member Value

By combining our collective membership of 3,500 investment management professionals, we are positioned to enhance the efficiency of delivering member services across all our locations.

This allows us to retain the local community spirit unique to each state via Chapters in Brisbane, Melbourne and Sydney while benefiting from a more extensive network nationally and globally.  

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Brand

The CFA Society Australia brand will bring significant opportunity to increase brand recognition and expand our reach nationally and globally. Speaking with one voice enables us to make a stronger impact on the recognition of the CFA designation and raise industry demand for the CFA credential.  

The increased recognition of the CFA brand will not only strengthen the professional standing of our members but also resonates with the broader investment and finance industry, generating a positive impact on members’ career advancement and opportunities.  

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Global Influence

Australia becomes one of CFA Institute’s ten priority ‘Global Financial Centre’ markets. As one of ten priority markets, we retain significant strategic funding to sustain higher levels of member services and the opportunity to provide input to CFA Institute’s strategic priorities and partnership programs. 


“This merger to form CFA Society Australia presents a significant opportunity to strengthen and grow the investment profession in Australia by promoting the highest standards of ethics, education and professional excellence. The change will enable us to engage with employers, Government and regulators nationally, while continuing to provide member services which are tailored to each geography we serve” Michael Clancy, CFA, Chair, CFA Societies Australia Governance Council.

 

Transition to CFA Society Australia

The transition will commence in January and is set for completion by July 2024 for the new membership year. We will soon share information about the new logo, branding and transitional process. In the interim, if you have any questions about the merger, please do not hesitate to reach out to us here.

 

Please refer to the Frequently Asked Questions below for more information.

 

Message from CFA Society Presidents

Message from CFA Society Melbourne President

Louise Farmakis, CFA

President
CFA Society Melbourne

Message from CFA Society Sydney

Charles Wu, CFA

President
CFA Society Sydney

Message from CFA Institute

“We believe the benefits of this merger are numerous and as a unified entity, the future of CFA Society Australia will have the potential to fulfil an expanded vision for optimising efforts and outcomes for the benefit of the mission, our shared members and strategy on a national and global scale.

CFA Institute leadership has confidence in the Australian Society leadership and management to create efficiencies through this merger while also continuing to collaborate effectively with its Chapters and CFA Institute staff to serve members and deliver on our shared strategy. CFA Institute will continue to deepen its engagement with Australia, giving Australia a stronger voice in the global community.”

Randi Tolber
Managing Director, Member and Society Relations, CFA Institute

How is CFA Societies Australia different to CFA Society Australia?
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At present, CFA Societies Australia serves as the national coordinating body for CFA Society Melbourne, CFA Society Sydney, and CFA Society Perth, and is the brand name used for national activities. Each of the three Societies functions independently with its distinct legal entity, governance framework, and membership operations.  

CFA Society Melbourne and CFA Society Sydney will transition to form a new legal entity as CFA Society Australia.  CFA Society Australia will assume the role of the new membership association from July 2024 onward. The local Chapters remain an important element of our structure and will continue to deliver services to members in each location.  

What is meant by a Chapter?
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CFA Society Melbourne, CFA Society Perth and CFA Society Sydney will become Chapters. 

Chapters serve as the regional representatives of the CFA Society. CFA Society Australia will include Chapters in Melbourne, Sydney, Perth and Brisbane. Members are attached to a Chapter based on their location. 

Chapters play an essential role in fostering and linking members to their local community through tailored, in-person professional and social events that cater to specific local requirements while maintaining connections with the national community and global network. They also manage relationships and activities with other stakeholders including universities and candidates.  

An active volunteer pool is the foundation for a thriving Chapter. Each Chapter will have a Chapter committee of volunteers – in place of the current Society Boards – and other volunteer roles across different portfolios, as we do today.  

As an example, Brisbane currently operates as a Chapter within CFA Society Sydney. Members located in Brisbane are members of CFA Society Sydney, which enables them to enjoy the advantages of belonging to both the broader CFA Society Sydney and their local CFA community in Brisbane. This dual membership allows them to participate in a wide range of active social and professional networking events. The Chapter volunteers and members also engage with universities, candidates, and employers in Brisbane.

 

How will CFA Society Australia support members at a local level?
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We will continue to offer services to local members via the local Chapters in Brisbane, Melbourne, Perth and Sydney. These Chapters will continue as committees of local volunteers responsible for the delivery of events and services to members, candidates, and universities in each state.  

The new governance model will ensure strategic alignment and access to resources while enabling local nuance to reflect the needs and preferences of members. Staff support will also continue in all current locations. 

Will we have staff support for our local events and activities?
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We will continue to have staff based in multiple locations and responsible for supporting local Chapter activities across Brisbane, Melbourne, Perth and Sydney.

Will the CFA Society Membership fee increase?
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There will be no immediate change to the membership fee. We want to ensure your membership remains valuable.  

Rest assured, the change will not affect your membership benefits; rather, it aims to elevate your experience through enhanced programs and resources. The rebranding will be a gradual and seamless process, so when renewing your membership in July 2024, simply mark CFA Society Australia.