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
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
