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
With Insignia shares up 32 per cent in the past month and the firm enacting a five-year growth plan, Morningstar believes the two recent acquisition bids from private equity firms demonstrate the company is undervalued.
As financial advisers enter the new year, Assured Support shares eight strategies to help advice businesses thrive through focused and consistent planning.
Insignia Financial has received a takeover bid from a second US firm, topping Bain Capital’s offer with a bid of $4.30 per share.
As the year comes to an end, Money Management takes a look at the biggest announcements that shocked the financial advice industry in 2024.
