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With money the number one cause of divorce in Australia[1], the Financial Planning Association (FPA) of Australia has conceived a new way for CERTIFIED FINANCIAL PLANNER® professionals to help beat the disheartening statistic and inspire more Australians to seek their services by introducing the concept of a Pronuptial Agreement (or “Pronup” for short) – a proactive financial plan for anyone in a serious relationship.
The FPA has launched the Pronup concept via a national CFP advertising campaign that runs from now until 30 June 2019. Outdoor, digital and podcast advertising includes attention-grabbing taglines like, “Nothing says I love you like a Pronup” and a call for anyone in a serious relationship to visit the FPA’s new Match My Planner online service to find a CFP® professional to create a Pronup for them.
FPA CEO Dante De Gori CFP® said: “Last year’s advertising campaign reached over nine million Australians outdoor, and over 3.6 million online, delivering a simple message about how a CFP professional can help people achieve their dreams. This year, we are honing in on the fact most Australians identify as being in a relationship — be it engaged, newlyweds, de-facto, same-sex, or mixed-gender relationships — and the fact a financial plan from a CFP professional actively removes the wedge money issues can cause in the most promising relationship.”
Alarmingly, one in three Australians are keeping money secrets from their partner, according to recent research by Relationships Australia. By encouraging couples to bring money issues, ambitions and priorities out in the open as early as possible, CFP professionals will help more Australians build a better financial future together, happier and more confident in money and life.
“The Pronup campaign is a new way for our CFP professional members to engage in conversation with potential new clients about the meaningful difference they make in people’s lives, in this case, to strengthen their relationships and future. A Pronup is simply a financial plan with a name and purpose people understand, and need,” said Mr De Gori.
The FPA’s advertising campaign directs consumers to visit the Money and Life site where they’ll read about getting a Pronup, how it can help them create a better financial future and why they should choose a CFP® professional. The digital advertising includes targeting couples in close proximity to the postcodes of 5,700 registered CFP® professionals across Australia.
“We strongly encourage CFP professionals to get behind the campaign by making use of the advertising toolkit available now at the FPA Member Centre. It includes social media assets to help your practice take the message directly to more Australians,” said Mr De Gori.
The FPA says CFP professionals registered on its new Match My Planner online service should be prepared to field Pronup enquiries, specifically.
The FPA is leaving it to the discretion of each CFP professional to set its own price for preparing a Pronup for new clients. As a guide, CoreData research indicates the average cost of a financial plan (i.e. Statement of Advice) in Australia is $2,435.
This guide will help CFP professionals understand how the new tool will work for them as well as consumers.
Find out more about the Pronup campaign by visiting the FPA’s website and downloading the FPA’s FREE eBook ‘Pronup: a plan for staying together’.
[1] Relationships Australia, Relationship Indicators Survey, 2011