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FPI joins Global Consumer Financial Planning Research Initiative

27 Jul 2015

The Financial Planning Institute of Southern Africa (FPI), a South African Qualifications Authority (SAQA) recognised professional body for financial planners, announced it will participate in a landmark global study by Financial Planning Standards Board (FPSB) into the behaviours that motivate consumers to seek, and the barriers that prevent consumers from seeking, the advice of a financial planner.

Godfrey Nti, CEO of FPI

FPSB, the pre-eminent international financial planning standards authority and owner of the international Certified Financial Planner certification programme outside the United States, will partner with GfK, a global research firm with extensive experience in the financial services sector, to conduct the research. The study, with 19 FPSB member organisations participating, is the first global research project of its kind and will involve nearly 20,000 consumers.

"We expect that consumer attitudes toward money and financial planning may vary according to their geographic, socioeconomic, educational and cultural experience," said Godfrey Nti, CEO of FPI.

"Conducting this research will help us better understand consumer motivations around financial well-being and communicate with South African consumers about financial planning. The results will also help us evaluate our consumer initiatives against global benchmarks," Nti added.

FPSB member organisations, found in 26 countries and territories globally, support raising consumer awareness of financial planning and CFP® certification, and are committed to the research as part of a global strategy to empower consumers to take control of their lives through personal financial planning. The global study will target a sample of 1,000 investors in each participating territory. FPSB expects to conduct the research in Q3 and announce the results later this year.

"FPSB is pleased to have FPI participate in this important research initiative, and we look forward to identifying and comparing consumer attitudes towards financial planning around the world," said Noel Maye, FPSB CEO. Having this research is an important step in launching globally-aligned promotional campaigns to educate consumers and connecting them with competent, ethical financial planners who are committed to placing clients' interests first."