The financial planners’ representative body, the Financial Planning Association (FPA), is close to launching a three-year advertising campaign aimed at overcoming ordinary Australians’ misconceptions about the industry.

The three-year campaign ­– which will begin in October – is the largest consumer marketing campaign ever undertaken by the association. It’s understood to be costing $3 million for the first year. The campaign will include television and print ads, as well as consumer kits, member materials and an internet presence.

The campaign has been a long time coming for the FPA, which has supported planners through some of their toughest times over the past couple of years. The industry has been the subject of scathing comments from both consumer and regulatory bodies on issues of disclosure and quality of advice.

Funding for the campaign is understood to be through a number of FPA principal members and the association itself – not companies like ING and the Commonwealth Bank as has been reported elsewhere. Members will also be invited to financially support the campaign.

FPA CEO Kerrie Kelly says there are “a number of misconceptions about financial planners”, especially about how they can benefit people financially.

“Our own studies, supported by independent research, also suggest that those who do use financial planners are more than satisfied with the advice and service they get, and see the value of advice.

“[The campaign] will communicate the fact that financial planners provide quality and useful advice and assistance that will help Australians plan for, and take steps to achieve, future financial well-being,” Ms Kelly said.