AFA members ante up for advice campaign

An influx of member contributions has given the Association of Financial Advisers (AFA) the momentum to begin serious planning towards the launch of an advertising campaign extolling the virtues of financial advice next year.

AFA chief executive Richard Klipin (pictured) confirmed that significant numbers of members had been committing funds to the so-called 'Make a Plan' campaign.

Money Management has been told that AFA members have been making financial commitments towards the campaign in accordance with what they believe they can afford, with the result that some firms have contributed in the order of $10,000 while others have committed to lesser amounts.

Klipin said that there had been a flurry of support in the form of both real cash and 'lots of pledges', which had allowed the organisation to move to the business planning stage with the expectation that it would have something to take to market in the first half of next year.

He said that while it was too early to determine the precise scale of the campaign, early indications suggested that funding might exceed $2.5 million.

News of the AFA’s progress on its 'Make a Plan' campaign comes just ahead of this week’s Financial Planning Association (FPA) conference on the Gold Coast where the focal point is expected to be strategy around the organisation’s transition from being an industry body to a professional association.