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
