AFA seeks war chest to counter industry funds

The Association of Financial Advisers (AFA) has announced its plan to hit back at the Industry Super Network by launching an advertising campaign that would aim to improve the image of financial planners in the eyes of the Australian public.

The advertising campaign, entitled ‘Make a Plan’, was announced at the 2010 AFA National Conference by chief Richard Klipin (pictured) and fellow Ron Lambert, who said the association would need to raise $500,000 at the conference and between $2.5 million and $5 million in total for the campaign to be released to the public.

The AFA pitched to dealer groups and other prospective financiers a 30-second television advertisement, which depicted a baby-boomer couple, a newly established family and a man in a wheelchair — all promoting the value of advice they received from their financial planner.

Lambert said Make a Plan would improve the overall image of the financial advice industry, damaged by the anti-commission campaign initiated by the industry super fund sector.

“There is constant negative media reporting in addition to the industry funds’ ad campaign. [The global financial crisis] and Storm contributed to the bad image of financial advisers,” said Lambert.

“Our clients know we’re doing a good job, but the public is unaware of it,” he noted.

Lambert added the 30-second advertisement would also take form of a radio commercial and would be adjusted for print media. He said if enough funds were raised, the association anticipated the campaign would be launched in the middle of next year.