Professional membership sees advisers paid moreBY BEN COLLINS | FRIDAY, 16 NOV 2012 11:20AMFinancial planers who belong to a professional body earn more money, research shows. |
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What clients seek from any prospective financial adviser is assurance to take investment/strategy action. An adviser provides this assurance, with or without the CFP certification. However, it is the mindset of the adviser that sets the 'value' of the advice (the fee charged), irrespective of the professional membership. FPA have done very well, and ought to be congratulated, on their promotion of the CFP program.To my mind, professional membership simply adds to the comfort of the client (perceived additional assurance), and also to the mindset of the adviser, in setting a price. The question to ask is, "What would happen if the mindsets of the non-FPA/CFP advisers were to rise to the equivalent value of the FPA/CFP advisers?"