The Financial Planning Association of Australia The Financial Planning Association of Australia

FPA supports national campaign to improve financial literacy

The Financial Planning Association of Australia (FPA) has welcomed the National Financial Literacy Strategy 2014-17, launched today by ASIC.

The FPA is committed to ensuring that consumers have access to the best financial advice. It sees financial literacy as key to this process, allowing consumers to confidently make decisions in terms of finding the right financial planner and acting on their advice.

Mark Rantall, CEO of the FPA, said: “We firmly believe that all Australians have the right to access the best financial advice. We also agree that there is more to be done to ensure that financial literacy is improved across the board. Ultimately, financial literacy is an everyday life skill that allows people to better understand their finances and to appropriately manage their financial outlook. We welcome ASIC’s commitment to helping consumers in this space, with the launch of this Strategy as well as its MoneySmart Week initiative.

“A collective push is needed from industry and businesses, working together to increase financial literacy and to help bring about the right financial outcomes for all Australians.”

According to ASIC, the National Financial Literacy Strategy 2014-17 aims to improve the financial literacy of all Australians. It will do so by providing a national framework that will allow meaningful action from stakeholders including government, business, community and education sectors.

Mr Rantall said the FPA will continue to support consumer-focused initiatives to execute its vision through members to stand with Australians for a better financial future. It will also continue its own direct work in this space, through Financial Planning Week from 25-29 August, to highlight the benefits of a financial plan and trusted advice.