The Association of Financial Advisers has partnered with consumer group Adviser Ratings to deliver a new financial literacy publication.
The Really Simple Guide to Financial Advice booklet, to be released later this year, is designed to address poor consumer understanding of personal wealth issues. According to the AFA, this is one of the barriers to people seeking financial advice.
“There is a fear of the unknown for many people when it comes to financial advice, and to choosing an adviser,” AFA CEO, Brad Fox, told riskinfo. “This booklet will be another way that the AFA can help support a better understanding of what financial advice is, what the experience of getting financial advice is like, and how to be confident that there is value for them in seeking financial advice.”
“It will be to the benefit of everyone to demystify financial advice,” Mr Fox said, adding the initiative was one of many programs of work the Association is undertaking to develop the standards of financial literacy in Australia. (The AFA recently launched a new TV series, Your Best Interests, promoting the value of financial advice. The series is currently airing on Channel 74. Click here for more.)
It will be to the benefit of everyone to demystify financial advice
The Really Simple Guide to Financial Advice will be distributed to all AFA members to use with their clients, as well as those advisers who have registered with Adviser Ratings. It will also be made available to the general public via newsstands and airport lounges nationwide.
The AFA will be contributing content to the publication, along with television personality David Koch, who recently signed-on with Adviser Ratings to help launch the booklet and a new online Consumer Literacy Centre.
Spokesman for Adviser Ratings, Christopher Zinn, said: “As a consumer-led organisation, we want to work with the industry to ensure consumer confidence is rebuilt largely by creating transparency in advice.
“With David’s help, we believe the initiatives will bring the consumer and industry closer together by not only rebuilding trust and transparency, but also helping answering the simple question, ‘How do I find a good financial adviser?’”
