Mark Rantall

The 14^th annual Financial Planning Week (FP Week) wrapped up this week, and has revealed that Australians are most concerned about retirement, home loans, superannuation and the best way to invest their hard earned savings.

The results of the campaign, run by the Financial Planning Association of Australia (FPA), have also shown that Australians aged between 20 and 35, are particularly interested in ‘quick fix’ tips to help them get ahead and make the most of any surplus income before they incur long-term debt.

Not surprisingly, people aged 50+ were the most engaged in FP Week, seeking out content that explained how they can prepare for retirement and also maximise retirement income.

Mark Rantall, CEO of the FPA, reflected on the campaign: “The aim of FP Week has always been to show the value of advice and demonstrate to Australians that qualified, professional advice can help secure their financial future and also help with short term goals.

“The financial planning profession has been in the spotlight recently, and education announcements made during FP Week by large financial institutions are another win for consumers because they will ultimately result in better protection and quality of advice. When people go and see a planner, they have a right to trust the person they see.”

One way the FPA seeks to demonstrate the benefits of good advice is through its Ask an Expert forum, Run by the FPA during its annual FP Week and Ask an Expert campaigns, Ask an Expert is a free service that allows people to submit a question about their finances to an FPA member.

“Over 20,000 people viewed our Ask an Expert forum this year, a 100% increase when compared to last year’s campaign, which shows there is a growing appetite and awareness of advice in Australia.

“As well as encouraging people to use this service, we also ran a consumer blog throughout FP Week that focused on different demographic groups and provided targeted and relevant content for each.

“Based on the visitor traffic to our blog, we can see that the piece about getting ahead in your 20s and 30s was most popular. Often we assume that people that fit into this demographic aren’t actively looking to manage their finances but FP Week has revealed that their appetite for advice isn’t much different from the retirement age group,” Mr Rantall explained.

Nearly 7,000 people viewed the FPA’s Find a Planner directory during FP Week to search for a qualified financial planner in their area.

“For 14 years, the goal of FP Week has been to show Australians the positive impact that qualified advice can have, and also encourage them to seek personal advice of their own. It is encouraging to see Australians using our directory to find a member of our association that can help with their finances.

“We want to thank those members who have contributed to the success of this year’s Financial Planning Week by contributing to the blog and Ask an Expert forum. We represent a community of professionals that is passionate about improving the lives of their clients through qualified financial advice, not only during FP Week, but ongoing,” Mr Rantall said.

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FPA launches the 2014 ‘ask-an-expert’ week.

The Financial Planning Association (FPA)’s Ask an Expert Week kicks off today, giving Australians the opportunity to have all their financial questions answered for free by a qualified financial planner and in turn, helping to make 2014 the year of getting their finances in order.

The national event is a week-long initiative (3 – 9 Feb) held by the FPA to improve access to financial advice for all Australians.

According to Mark Rantall, CEO of the FPA, the timing for Ask an Expert Week couldn’t be better with many Australians looking to implement their new year’s resolutions to shore up their finances in 2014. However, many of these consumers don’t know where to look for extra guidance in making their resolution stick or just need that extra bit of expert advice to ensure they keep their resolve and stay on track with their goals.

“Only one in three Australians (34%) say they know where to find a financial planner that they can trust, according to our research . This number is even smaller among low-income households, who often stand to benefit the most from financial planning advice,” said Mr Rantall.

“We understand that it can be tricky to know where and what to look for when seeking help with something as important as your financial future. That is why we set up Ask an Expert Week – to provide a bridge between consumers and financial planners who are professionally certified and bound by a Code of Professional Conduct.”

Mr Rantall went on to outline the free resources on offer in Ask an Expert Week:

• ‘Ask an Expert’ forum gives Australians the opportunity to ask their financial questions, no matter how simple or complex, in their own words, and have them answered by an expert financial planner for free. ‘Ask an Expert’ is an online forum on the FPA website, (www.fpa.asn.au/askanexpert).
• Questions can also be posed via Twitter to @AustraliaFPA, and are already being accepted.
• A blog containing useful tips and advice from expert financial planners (www.fpa.com.au/blog)
• ‘Find-A-Planner’ (www.fpa.com.au/findaplanner) is a directory of reputable financial planners by area, which is available via the FPA website all year long.

Mr Rantall concluded, “One hesitation that we often hear about from consumers is that they don’t feel that financial planning can help them or that they can’t afford it. But whether you are a young professional just starting to earn income or approaching your retirement years, quality financial advice can help you set and achieve your life goals. Ask an Expert Week gives Australians the chance to try out financial advice for free and without the need to commit to a longer-term relationship with a planner, from sources they know they can trust. We hope this initiative will encourage more Australians to seek out a CERTIFIED FINANCIAL PLANNER® professional to truly make their New Year’s resolution stick.”

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