This is my first of what should be a brief but regular contribution to AdviserVoice, written from the point of view of a practicing self Licensed Adviser. Naturally other ‘Gurus’ will offer different and sometimes contrary ideas but hopefully it will encourage lively debate.
I am currently attending the “AFA Conference’ on the Gold Coast, as a paying delegate of one of a number of Industry Bodies I belong to. The big news today is the proposed launch of a $5m advertising campaign by the AFA Membership to build a positive message of the value of advice members give to their clients and the wider community. The proforma TV advertisements looked very impressive and consumer friendly.
In part, this is to counter the estimated $20m a year advertising campaign of the Industry Fund which was generally perceived to be ‘anti -advice’. The funding of this is to come from the membership with a suggestion of a 1% levy on turnover which in practice is similar to our professional indemnity premiums. It remains to be seen whether other Industry Bodies will follow suit or even join forces.
My first question of the week to practicing advisors is therefore “will you be prepared to financially support this kind of initiative to improve consumers understanding of what we do”? As for me my cheque is in the mail.
Till next week
Tony
I would be happy to contribute, as long as it is good quality and not like the don’t ask dazza campaigns that the FPA ran.
To what would the benefit be? Do you really think that an Ad will change the opinion of Advisers? I have been directly involved in the industry since 1984 and back then people didn’t like us but clients loved us. Now in 2012, people dont like us but clients love us.
For me, I wouldn’t pay to have an Ad say “Advisers are good, qualified etc heres our $5m Ad of happy people so trust us.”
All these Ads are just marketing kneejerk reactions to problems that dont really exist. Be much better to increase the level of information and engagement that clients want in a manner that is easy to understand and not so complex; all they (or anyone)really wants to know is “…will I be OK”
Maybe too simple for some to understand