Coming soon to a commercial break near you, is a new advertising campaign from the CFP Board that aims to shed light on the higher emotional well-being consumers achieve when engaging with a certified financial planner. You may have seen their previous T.V. spot from a couple of years ago which featured a professional DJ throwing on a suit and convincing prospective clients that he was a trustworthy financial advisor.
That campaign slogan was “if they’re not a CFP pro, you just don’t know.” It was a clever public service announcement pointing to something we’ve written about here before - the importance of understanding where your financial advice is coming from, and whether or not it’s in your best interest.
The latest promotion pivots from pointing out the danger of working with just any “advisor,” to showcasing the potential benefits of engaging in financial planning work. Yet, what seems to get glossed over in all of the excitement to spread the word, as often happens when advisors attempt to describe their services, is a good explanation of what exactly financial planning is in the first place.