AFA calls for Collective Voice


The Association of Financial Advisers (AFA) is calling on the profession to stand strong and united following the launch on 2 December of a powerful new group calling itself the Australian Financial Integrity Network (AusFin). AusFin counts amongst its members the Industry Super Network (ISN), Choice and the Australian Council of Trade Unions.

“There is a clear need  to deliver a consistent message to Canberra and to consumers about the value of the work we do helping consumers address the critical issues they currently face, including savings and retirement savings inadequacy and chronic levels of underinsurance,” AFA CEO, Richard Klipin, said.

Mr Klipin said the advice profession has experienced volumes of negative media reporting over the past few years and a concentrated industry funds advertising campaign that, by extension, discredits all members of the advice profession. “This has fuelled an unfair perception that collectively all advisers are opaque and self-motivated and worse, untrustworthy,” he said.

The AFA’s Back to Basics research paper proved that in fact clients who have advisers rank them amongst the top three most trusted professionals in their lives.

Mr Klipin said the profession needs to work collaboratively to better articulate the real value of what they deliver to consumers. “Collectively we have the resources to demonstrate that advisers are open, honest, really care about their clients and provide enormous value to them,” he said. “Our profession is part of the solution to some of the major financial and demographic issues facing the Australian community.”

The AFA is planning to take its consumer-focussed message to market via the Make-A-Plan Campaign  launched at its annual conference in October.

The AFA’s Make-a-Plan Campaign will include:

  • Television, radio and print advertisements that clearly articulate the value of good advice both in financial and peace-of-mind terms while delivering a powerful consumer call to action
  • A corresponding public relations campaign
  • A dedicated AFA Make-a-Plan consumer website

Mr Klipin said the aim of the campaign is to:

  • Create an overarching positioning that the profession as a whole delivers great advice
  • Provide a platform for a more consumer-focused profession
  • Create a framework for future specific messaging around important issues, such as Australia’s inadequate savings and retirement savings levels, and chronic levels of under-insurance

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