FPA joins global network to mark Financial Planning Day

Oksana Patron

6 October 2022

The Financial Planning Association of Australia (FPA) has announced it has joined the Financial Planning Standard Board (FPSB) and its financial planning professional bodies to mark the sixth annual World Financial Planning Day today, during its Financial Planning Week running from 3 to 9 October.

The event, which aimed to raise awareness about the value of financial planning, coincided with the launch of the new FPA’s research on the value of advice, including the inaugural Value of Advice (VoA) index which would be updated on the annual basis.

“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,” FPA’s chief executive Sarah Abood said.

“Advised Australians overwhelmingly believe advice has made them tangibly financially better off and that its value outweighs the cost.”

The research showed that clients of all adviser types saw improvements in their situation, clients advised by a certified financial planner (CFP) professional felt they benefitted more than clients of non-CFP professional (86% vs. 78%).

Also, according to the research, two-in-five advised Australians believed professional advice benefited their family life (41%) and mental health (44%).

The FPSB Network, represents more than 203,000 CFP professionals worldwide, and is a global network of financial planning professional bodies, with a series of programs and events aimed to promote the value of financial planning, global consumer financial literacy and resilience.