IFP campaign can 'combat ignorance' of Financial Planning
There is a major lack of knowledge about the difference between Financial Planning and advice among the general public, a Financial Planning firm director has said, ahead of a key campaign.
Planners will take up the quest to enlighten the man in the street about the merits and importance of the profession for Financial Planning Week - starting on Sunday.
Jane Smith Financial Planning in Olney, Buckinghamshire, will be running free surgeries on November 24 and 25.
The firm's director Nicola Watts CFPCM said: "There simply isn't enough knowledge amongst the general public regarding the difference between financial advice and Financial Planning.
"We're hoping that events and PR during the week will help to raise the profile of Financial Planning, not only to the consumer, but also as an aspiration for those already in the financial services industry and to attract new people into this as a profession."
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She hopes to use contacts with a local radio station for an interview during the week and said the free surgeries are a great way to boost awareness.
"We're a small family run firm in a small market town. This is a relatively easy way of raising the profile of Financial Planning Week, the concept of Financial Planning and our firm.
"We're delighted to have the opportunity to be able to speak to local people about how a local firm can help them in achieving their objectives."
Across Britain IFP members will be carrying the flag for Financial Planning and explaining how it can aid everyone's personal financial futures.
Dan Woodruff CFPCM, owner of Woodruff Financial Planning, said of the campaign: "I think it is a good way of raising awareness of the profession and IFP. In particular, I'm keen to distinguish us financial planners from product-focused IFAs."
Mr Woodruff regularly appears in the local media and told how this has enhanced his business and, he believes, increased awareness of Financial Planners.
He has a weekly slot on BBC radio Essex, and contributes to the Gazette newspaper, including a recent article on Financial Planning being added to the school curriculum.
He said: "The radio slot works well for building my profile locally. It goes out early – before 6.30am each Friday, but it is surprising just how many people mention that they have heard me.
"I have had a few leads directly as a result of the show. The radio appearances have helped me to understand better what journalists want from Financial Planners.
"In the long run, the fact that people get to here the term Financial Planner can only help.
"What doesn't help is that anyone can use that term regardless of whether they actually offer that service. Still, I have had the opportunity to explain the difference from time to time."
It is the seventh year the campaign has run and the 2014 event aims to:
• Raise consumer awareness of the benefits of Financial Planning
• Help IFP members and their firms to establish their brand directly with consumers as well as the personal finance media
• Show consumers the benefits of working with professional Financial Planners, in particular with CFPCM professionals and Accredited Financial Planning FirmsTM
• Help to build the profile of the Financial Planning profession with the media.
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