The Financial Planning Association (FPA) has created a new website dedicated to helping financial planners and their clients navigate the current financial crisis, at the same time as launching a national advertising campaign to promote the value of advice to consumers.
In what is the third phase of the FPA’s consumer advertising campaign, the somewhat infamous ‘Dazza’ character has been dropped in favour of real-life case studies. FPA chief executive Jo-Anne Bloch said while the fictional character featured in previous campaigns had been successful from a consumer point of view, many FPA members “really didn’t like Dazza”.
The new campaign, which will see advertisements feature online and in weekend newspaper supplement magazines, is based on real-life case studies that show the net benefits of advice.
Bloch said the campaign, which has been tested with both consumers and FPA members, represents “exactly what financial planners have been trying to say for a very long time”, which is “don’t focus on fees and commissions, focus on the net benefit of advice”.
“As long as your remuneration is clear and transparent and your client has a choice, the benefits far outweigh the costs. And I think this absolutely demonstrates it very clearly.”
The advertising campaign is expected to drive consumer traffic to the FPA’s public ‘Good Advice’ website, which has been revamped in line with the new campaign. The campaign will run in print over the coming weeks, while the online advertisements will be featured until December.
The FPA has also created a new online resource for its members, the Market Volatility Resource Centre.
Bloch said the new website brings together a range of materials and assistance for financial planners in dealing with the current market turbulence. The portal will include presentations, charts and financial planning strategies and will also include a counselling service for financial planners.
Bloch said many members are dealing with “clients who are unhappy and emotional and putting a huge amount of stress on financial planners”, as well as having to deal with the fact “their own assets and business models are suffering”.
The member resource will also include a communication forum to allow planners to share ideas and “offer clients and each other the support that they need”. The site will also feature links to key Government websites, FPA Professional Standards guidance and economic and share market reports.
