Perpetuated misconceptions about the role of financial planners are causing those who need them the most to avoid using them, according to Financial Planning Association (FPA) CEO Kerrie Kelly.

She says a number of recent surveys have shown that clients of financial planners are actually more than satisfied with the advice and service they get, and recognise the value of advice.

With a $3 million television, print and internet advertising campaign kicking off next week, Ms Kelly says the surveys also show that people who use advisers “are more likely to reach their financial goals than those who don’t”.

“However, other people incorrectly see financial planners as just investment advisers or that their role is solely to do with recommending, or even promoting, certain investment products.”

Ms Kelly says the “product” of a good financial planner is valuable advice, tailor-made to suit the needs of each one of their clients.

Financial planners were recently the subject of an offhand remark made by the Australian Securities and Investments Commission’s Assistant Director of Compliance and Intermediaries, Sharman Grant, who expressed her distrust of them.

But that’s not why the FPA is spending $3 million. FPA Media and Communications Manager Jason Spitz says the advertising campaign is “a completely different thing”.

“It’s an ongoing issue. These misconceptions haven’t grown up overnight,” he told Sunrise Exchange News.

Mr Spitz says the campaign is part of an ongoing program to keep people aware of the role of financial planners, and the importance of their advice.

Ms Kelly says the range of advice a planner provides “includes such things as considering appropriate retirement savings strategies, helping a client to decide on the right asset ownership structure, looking at the risk entailed in various investment alternatives, and approaches to manage and reduce the cost of debt”.