AFA calls for adviser PR offensive

Speaking at the AFA national roadshow in Sydney yesterday, AFA chief executive Brad Fox said that while many advisers do great charity and community work and have positive stories to tell, the message is not getting out to the consumer.

Asked whether they engage in pro bono financial advice services, a vast majority of delegates to the roadshow put up their hands, prompting Mr Fox to call on them to be proud of this work and be willing to self-publicise.

“We need to get the real stories out to the public; we need them to see the real advisers because the deeds of the few have tarnished the many in the media over recent months,” Mr Fox said.

Mr Fox reflected on a conversation with an Adelaide-based adviser in recent weeks, who confessed he “hasn’t owned up to what he does for a living” for a number of years due to negative stories about the financial advice profession in the mainstream press.

“We need to raise the levels of pride in what we do and get the message out more broadly than we have done,” Mr Fox said.

The comments come as the AFA releases a sneak peak of its upcoming Principles of Practice – Code of Conduct document, which centres on the six principles of “integrity and professional conduct, best interests, conflicts of interest, informed client consent, service standards and professional expertise”.