More promotion needed: FPA members
The Financial Planning Association (FPA) has released the results of its own research that shows its members feel it is not doing enough to promote the value of advice or the profession.
A survey of 2,600 FPA members found that while 93 per cent believed that promoting the financial planning sector was important to the FPA, only 36 per cent rated its performance in this area as good.
Respondents also indicated that the FPA needed to improve the perception of the Certified Financial Planner (CFP) brand in the eyes of the general public by using marketing to raise awareness.
FPA chief executive Jo-Anne Bloch said the findings confirmed many of her impressions.
She added that the association would be making organisational and policy changes to meet the needs of advisers more effectively.
“The board has said that membership is its highest priority going forward,” she explained.
“This is a member association focused on the needs of financial planners and principals and we must really engage with our members and deliver services that help them feel very much part of the association — it’s a huge priority.”
Bloch said the FPA was already developing ways to address areas of concern, including a campaign designed to promote the CFP designation, a Financial Services Industry Complaint Service liaison committee and the development of a pro-bono program for disadvantaged community members needing financial advice.
On a positive note, the survey revealed significant support for the FPA’s strategic priorities, its communications with members and its program of educational and professional development activities.
It also showed that members value the association’s ability to lobby on behalf of individuals as well as its nationally-recognised representation.
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