WFPD occurs during Financial Planning Week, which runs from 3-9 October 2022.
FPSB CEO, Noel Maye, said “This World Financial Planning Day, we want the public to know how financial planning can help them feel more confident and in control of their finances, keep them on track with goals, and live their today while planning their tomorrow.”
WFPD raises awareness among the public about the value of financial planning, of having a financial plan, and of working with a financial planner who has committed to competency and ethical standards, such as a CERTIFIED FINANCIAL PLANNER® professional.
To celebrate FP Week and WFPD 2022, the FPA has released new research on the value of advice, including the inaugural Value of Advice (VoA) index which is planned to be updated yearly.
FPA CEO Sarah Abood said: “The research found that financial advice promotes a better quality of life and provides many other non-financial benefits on top of direct financial improvements. For example, two-in-five advised Australians believe professional advice has benefited their family life (41%) and mental health (44%).
“With the cost of financial advice looming large for many Australians, this World Financial Planning Day we want to highlight the research findings that those who have received financial advice believe it’s worth every cent.
“Advised Australians overwhelmingly believe advice has made them tangibly financially better off and that its value outweighs the cost,” Abood said.
“Interestingly, while clients of all adviser types saw improvements in their situation, clients advised by a CFP® professional felt they benefitted more than clients of non-CFP® professionals (86% vs 78%). They have the highest quality of life, the most financial confidence and are the most satisfied with their wealth,” Abood said.
The Financial Planning Association of Australia is part of the FPSB Network, representing more than 203,000 CFP professionals worldwide. FPSB’s global network of financial planning professional bodies will host a series of programs and events to raise awareness of the value of financial planning in celebration of World Financial Planning Day. Activities include:
- Australia: FPA Australia will host Financial Planning Week from 3-9 October, with the release of a custom measurement index and research that reflects the value of financial advice.
- Brazil: Planejar – Associação Brasileira de Planejamento Financeiro will host virtual consumer events on financial planning and investment topics from 3-7 October.
- China: FPSB China will host in-person and virtual events to raise awareness of financial planning.
- Chinese Taipei: The World Investor Week Forum hosted by the Financial Planning Association of Taiwan from 4-6 October will provide an in-depth analysis of market trends to help the public gain financial knowledge related to global inflation.
- Germany: FPSB Deutschland will conduct virtual consumer events from 3-7 October to raise awareness about the value of financial planning.
- Hong Kong: The Institute of Financial Planners Hong Kong will host a virtual event on best practices of wealth transfer planning on 5 October.
- India: FPSB India will participate in the National Stock Exchange of India bell-ringing ceremony on 4 October to kick off World Financial Planning Day, host TV and virtual discussions with CFP professionals on the evolution and value of financial planning, a live YouTube session with a CFP practitioner on personal finance, and in-person sessions with students and employees on the importance of financial planning the first week of October.
- Indonesia: Virtual consumer events on a variety of financial planning topics will be hosted by FPSB Indonesia and FPAI from 5-9 October.
- Japan: Japan Association for Financial Planners is raising awareness of financial planning with an extensive media and social media campaign.
- Malaysia: Pro bono financial planning sessions from CFP professionals and in-person and virtual financial education events are being facilitated throughout September and October by the Financial Planning Association of Malaysia in partnership with SmartFinance and #FinPlan4U.
- Republic of Korea: FPSB Korea launched a video contest to address the question, “What are you doing to better your future?” and will grant awards to winners on 5 October.
- Singapore: Financial Planning Association of Singapore will host in-person and virtual consumer events on a variety of financial planning topics and publish articles, blogs and brochures to raise awareness about the value of financial planning.
- South Africa: FPI of Southern Africa will celebrate Financial Planning Week in partnership with ASISA Foundation from 3-7 October as part of World Financial Planning Day, which will include Facebook live sessions and podcasts on a range of financial planning topics, workshops and pro bono financial planning consultations.
- Thailand: Consumer-facing articles from Thai Financial Planners Association that cover a range of financial planning topics will be featured and supported by a media outreach and social media campaign.
- The Netherlands: Federatie Financieel Planners will host Plan Your Future. Live Today (“Plan je toekomst; Leef vandaag”) from 3-7 October and publish financial planning articles for consumers and professionals.
- United Kingdom: Chartered Institute for Securities and Investment hosts its Financial Planning Week from 3-9 October to advance financial literacy and money management skills across the UK, which includes a #10DaysOfFinancialPlanning social media campaign.
- United States: CFP Board will host its 5th Annual Diversity Summit to advance diversity in the financial planning profession on 27 October.
For more information about World Financial Planning Day visit WorldFPday.org and follow the #WFPD2022 conversations on FPSB social media channels.
A World Financial Planning Day 2022 video of FPA CEO Sarah Abood and other leaders from financial planning professional bodies around the world is available to view here.