FPA to reach out to consumers

By Ross Kelly

GETTING the public to understand the benefits of financial planning, boosting the reputation of the Certified Financial Planning (CFP) designation and improving communication with members are among the chief goals the Financial Planning Association (FPA) has placed on its 2005 to-do list.

Meeting for the first time under the chairmanship of Kathryn Greiner, the FPA board identified these as the strategic areas it believes will be the association’s top priorities in 2005.

Other priorities identified by the board included frequent face-to-fact contact with members through state chapters and committees, forging stronger relationships with government and regulators, and helping members become more professional.

Greiner said it was also important for the profession to reach out to consumers.

“FPA membership is an essential asset for financial planning practitioners. We will continue to represent member interests to government and regulators and raise the level of professionalism in the sector. At the same time, we must reach out to the community in an effort to increase consumer understanding of the need for, and value of, financial planning,” Greiner said.

According to an FPA spokesperson, the association would also place strong emphasis on enforcing FPA standards, including the code of practice on alternative remuneration and the new principles on conflicts of interest, which the spokesperson confirmed would be released in about two weeks.

“In 2004, we had to refocus our priorities and we made that big move of trying to focus on delivering value to members. But this year it’s really more of the same, but building on what we did last year and making sure we can add value to that,” the spokesperson said.