Boutique adviser associaiton SIFA has just held one of its biggest ever conferences in Queenstown, but being bigger isn't its goal.

SIFA chairman Paul Choi says the group is deliberately putting professional depth and member engagement ahead of chasing membership numbers.

After more than 30 years, Choi says the organisation is comfortable remaining relatively small and has no ambition to become the biggest adviser association.

“Growth for its own sake has never been the goal,” Choi says.

“What matters more is the strength of the community and the value people get from taking part.”

Choi says the financial advice profession has changed significantly over SIFA's three decades, but the organisation's underlying purpose has remained largely unchanged.

It provides a forum where advisers can challenge their thinking, exchange ideas and learn from other practitioners.

There is also considerable experience within its membership, including a relatively high number of advisers holding the Certified Financial Planner (CFP) designation and other advanced qualifications.

However, Choi says qualifications are only part of the picture.

Many SIFA members take a broad financial planning approach to advice, working with clients across different areas of their financial lives rather than concentrating on individual products or transactions.

That experience is reflected in SIFA's annual conference, which brings together local and international speakers alongside opportunities for advisers to discuss issues affecting their businesses.

“A lot of work goes into bringing high-quality speakers to New Zealand who can challenge our thinking and introduce fresh perspectives,” Choi says.

Long-standing sponsor relationships also help SIFA deliver the conference.

Choi says an important distinction for SIFA is that it remains member-run.

Its committee consists of people actively working in advice businesses, which means its programme is shaped by issues advisers encounter in their day-to-day work.

“People arrive ready to engage, ask good questions and share what has worked for them, what has not and what they have learnt along the way. There is a generosity within the membership that is quite special,” Choi says.

SIFA members are also becoming involved in wider industry discussions.

Choi points to the recent appointment of two members to the Financial Markets Authority's Financial Advice Regulatory Panel as an example of practising advisers contributing to discussions about the future of financial advice.

He says SIFA does not need to radically change its purpose as the advice profession evolves.

Its focus will remain on connecting advisers, exchanging ideas and helping members improve the quality of the advice they provide.

“At the end of the day, financial advice is about helping people make wise decisions. If SIFA helps advisers become better at that, then the people they serve are ultimately better served.”

Choi says that is a more important measure of SIFA's success than its membership numbers.

“We are not trying to be the biggest voice in the profession. We just want to make a thoughtful and positive contribution to it.”

Find out more about SIFA Here