FPA to establish 'mark of trust'
The Financial Planning Association (FPA) will launch an advertising campaign from 18 September, in an attempt to establish FPA membership as the 'mark of trust' with the broader community, and differentiate its members from so-called 'free riders'.
FPA chief executive Mark Rantall said the television, print and online campaign will form part of the FPA's mission "to transform financial planning into a respected profession". This mission drives the association's current agenda, and Rantall said the FPA has "put this forward during all the negotiations with Government regarding FOFA [the Future of Financial Advice reforms]".
The ad compares the qualifications and experience of financial planners with that of doctors, lawyers, pharmacists and helicopter pilots, with the strap line, "Not all financial planners are the same. Always look for a member of the Financial Planning Association".
The FPA's upcoming advertising campaign aims to "make a statement out there in the marketplace around who is the FPA, and what do we stand for", FPA general manager - marketing, Lindy Jones, told journalists at an FPA Roundtable yesterday.
Rantall said the Association had been "instrumental in the FOFA negotiations, even though we absolutely will not, and do not support opt-in".
Since the Government has consistently refused to abandon the two-year opt-in requirement, Rantall said the FPA would now focus on "making sure it is sensible, workable, and legal".
The upcoming advertising campaign is also about the importance of refusing to support 'free riders' within financial planning, Jones said.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
