Advisers crowd-fund to counter negativity
A financial adviser has started a social media campaign aimed at raising funds to counter the negative publicity directed at the financial planning community because of the acts of a few bad apples.
Association of Financial Advisers (AFA) member, financial adviser and risk specialist, Meike Suggars has used an AFA social media discussion forum to point to the campaign initiated by another adviser, Melinda Houghton.
On that forum, Suggars asserts that "whenever financial advice is mentioned in the media, we're being slammed because one of the few ‘bad apples'. The good news stories about the help we provide to our clients never seems to make the news - those headlines obviously don't grab attention or sell papers!"
She then points to Houghton's idea of a crowd funded campaign "to share the stories that show what we really do, and change the perception of financial advisers as money grabbing dodgy folk".
"This Positivity for Planners campaign is different to the AFA's Your Best Interests, which is an advice reality TV series," she wrote. "Positivity for Planners is easy to digest content - podcasts, cartoons, blogs, articles, ads - that are professionally created and not branded by any particular association, product provider or business.
The discussion forum then provides an online address via which people can pledge their support for the campaign with the assurance that if the pledge target isn't met, the campaign won't go ahead and the supporters won't be out of pocket.
"So if you've ever complained or expressed frustration at the way your profession is portrayed in the media put your money where your mouth is and help get this campaign off the ground," Suggars said.
Feedback on the AFA linked-in forum suggests the concept is gathering considerable support and momentum.
AUTHOR
Mike Taylor
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
