The AFA's GenXT initiative has spurred a proliferation of Generation X and Y adviser members.
According to a statement issued by the organisation, around 30 per cent of its adviser members are now under 40 years of age.
AFA CEO Brad Fox said young advisers were attracted to the organisation by the GenXt program, designed to promote professional development and networking.
“We have made a significant investment, through the GenXt initiative, in helping our members to embrace their own professional development,” he said.
“We have spent time and effort to find out what they want – it’s to get noticed, get inspired, get connected, get mentored and get smart. They are the future of advice.”
Mr Fox pointed to the GenXt Roadshow, which attracted more than 1,300 advisers, as evidence that the organisation is building a “real sense of community”.
“As an association, we have created a feeling of vibrancy, of being connected and enthusiastic, driven and confident,” he said.
AFA Rising Star of the Year 2014 award-winner Ben Budge – who is also the director of My Wealth Solutions – credited AFA’s mentoring program with his success as a young person in the advice industry.
“I can’t stress it enough: it contributed significantly to my confidence in being able to innovate new ways for my clients to reach their goals,” he said.