FAAA launches value of advice campaign

The message of the Financial Advice Association Australia’s (FAAA) consumer-focused campaign – “By talking to a licensed financial adviser, you can be better off” – is intended to promote the value of professional advice.

FAAA general manager of membership Tania Milnes said the campaign will reinforce the impact professional advice can have on peoples’ lives.

“Financial advice can be life-changing – it can be aspirational, it can give people control over their lives, it can help them achieve their dreams, and it can give confidence and peace of mind,” Milnes said.

“Our new awareness campaign takes a distinctive and different approach to present the message that people will be better off if they get professional financial advice from a licensed financial planner.

“As the leading voice for financial advice professionals in Australia, the FAAA is committed to elevating the profession and advocating for the financial wellbeing of Australians, so they can be financially better off.​”

The FAAA said it will be utilising social media platforms such as Facebook, Instagram, TikTok, YouTube, and LinkedIn to spread its message, as well as relevant podcasts and on Google.

A study by the Association of Superannuation Funds of Australia (ASFA) released earlier this year found that many Australians under 35 have turned to social media and finfluencers for financial advice. Among those within this cohort that had never seen a professional adviser, 15 per cent said they had turned to social media to seek financial advice, coming in second only to friends and family (36 per cent).

With so many clearly seeking financial advice on social media platforms, Milnes said the FAAA had deliberately decided to utilise these same platforms to share their campaign.

“One-in-three Australians are still turning to unqualified finfluencers for guidance – a decision that could cost them a lot. With Australians losing over $1.3 billion to financial scams in the last year, the launch of this campaign is timely,” she said.

“Our own research shows that quality, professional financial advice empowers Australians to build a secure future, enjoy a higher quality of life and experience less financial stress.

“The campaign highlights this by connecting people with a professional licensed financial adviser who is a member of the FAAA. It emphasises that FAAA members have the qualifications and expertise needed to help people manage the complexities of the financial world.”