News in Brief

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  • FPA Launches Consumer Website;
  • Small Business Remains Uninsured

FPA Launches Consumer Website

The FPA has launched an educational website for consumers designed to provide basic advice on a number of topics and to connect them with an FPA member if they require personal advice.

FPA CEO Dante De Gori
FPA CEO Dante De Gori

The site – titled Money & Life – went live last week with information on growing wealth, managing family and life events and preparing for retirement and will feature an ‘Ask the Planner’ video series with content from FPA practitioner members.

Consumers using the site can also find an adviser in their area while advisers will be offered content on strategy, practice management, career development and business growth that will contribute to Continuing Professional Development (CPD) hours.

FPA Chief Executive, Dante De Gori said the website was designed as a first step for people who were not ready to seek professional financial advice and would be driven by the Association’s members.

“In a way, Money & Life belongs to our members. We encourage FPA members to own it, leverage the content to empower those in their own network, and of course ensure their Find a Planner profile is up to date. We are also looking for FPA members to contribute to the site, as we look to grow the pool of financial planning expertise on Money & Life,” De Gori said.

 

Small Business Remains Uninsured

MetLife has encouraged small business owners to seek financial advice and gain an understanding of what life insurance cover they may need after a survey of 1000 businesses found around half had little or no insurance cover.

The insurer stated small businesses needed to understand the different types of cover on offer and adapt that cover in line with changes in the business and the life stages of those involved.

MetLife stated that life insurance could be offered to employees to attract them and used as a competitive benefit to retain them pointing out that 5.3% of Australians experience at least one work-related injury or illness within a year.

The survey conducted for MetLife also found that only 16% had a financial plan in place and that 59% would either use saving or sell assets to survive if they could no longer work while most would either close their business or have employees run if they did not have adequate insurance cover.

MetLife said the use of professional advice “…is always a good idea when reviewing your insurance” and the survey found using a professional saved time and gave small business owners peace of mind.