The Personal Finance Society has enlisted the help of Apfa and IFA Centre as it launches a campaign to build greater trust in the advice sector.
The PFS launched its Uniting the Profession initiative in May and this week revealed details of a new Consumer Confidence Campaign aimed at changing negative consumer perceptions about financial advisers.
Writing in the latest issue of PFS magazine Financial Solutions, chief executive Keith Richards says the move to higher standards under the RDR represents a good time to boost the profile of advice. But he suggests the fact that many advisers are so critical of their peers in public does nothing to improve the perception of the profession among consumers.
He says: “I am certainly not advocating anyone should turn a blind eye to wrongdoing or sweep it under the carpet. I am, however, highlighting the need to understand the consequences of washing our dirty laundry in public, especially without evidence. If anyone comes across evidence, they should report it, not blog or tweet about it.”
Other organisations that have pledged their support to the campaign include Threesixty, Sesame Bankhall Group, SimplyBiz, Investment Quorum, RSM Tenon, Lighthouse Group and Chadney Bulgin.
Clearwater Financial Planning managing director Duncan Carter says: “I am all for this campaign. The better firms are at projecting a good image of advice, the less space there will be for negative or rogue firms.”
Advisers can support the campaign at www.thepfs.org/confidence