The Financial Planning Association (FPA) says its ‘Ask an Expert’ service is off to a good start, but if the trending topics are anything to go by, many Australians do not understand what financial advisers actually do, and how much they charge.
The Ask an Expert service is one of the initiatives run by the FPA as part of Financial Planning Week (which was held from 23-29 May). To participate, consumers visit the ‘Ask an Expert’ website and email through their question to one of a panel of planners, who will then reply back directly.
The FPA says that over 100 questions have been posted to the panel of FPA members so far, with two of the trending topics centreing around the role and remuneration of financial planners.
Topping the list of frequently asked questions was: “What do planners actually do?”
“What do Financial Planners cost?” was also a popular enquiry.
Other common questions were “Where should I invest?” and “Do I need to invest more in superannuation?”.
FPA CEO, Mark Rantall, has welcomed the questions, saying: “Financial Planning Week raises the discussion around the importance of financial planning in all our lives. Ask an Expert is a no-strings-attached initiative for all Australians to approach a trusted financial planner.”
He explained that one of the objectives of Financial Planning Week was to educate consumers about the importance of financial advice and the need to seek advice from a qualified and trusted financial source, such as an FPA member.
“Whether it’s about their super, dealing with debt, investing in property or saving for the future, our experts can help out. It’s a great opportunity to demonstrate exactly what we do and how important financial advice is for everyone – not just those with dollars to spare,” Mr Rantall said.
The Ask an Expert service will remain open until 1 July 2011.
