Popularity Contest

Whether they are willing to admit it or not, the media represent a vital mouthpiece for industry associations when trying to relay important messages to the broader community.

But most discerning journalists are not happy to simply regurgitate a press release, rather they seek unique and interesting comment that provides colour to the article and maximises the number of potential readers.

CoreData asked more than 30 financial journalists to rate six key financial services industry associations or individuals based on their likeliness to turn to them when seeking comment for a super or financial planning story and the quality of comment provided.

The results were enlightening. It seems that Pauline Vamos, the CEO of the Association of Superannuation Funds Australia (ASFA) is the person journalists are most likely to call for a quote – and she also rates highest on the quality of comment provided.

John Brogden at Investment and Financial Services Association (IFSA) and the Financial Planning Association (FPA), whose figure-head Joanne Bloch is due to depart for Mercer shortly, rated equal second on the dial-a-quote stakes.

Fiona Reynolds at the Australian Institute of Superannuation Trustees (AIST) rated second on quality of comment, although journos would choose her as a fourth preference when seeking comment.

IFSA rated equal third with the FPA on quality of comment provided, followed closely by the AFA and its chief Richard Klipin.

Love them or loathe them (and it’s fair to say that the latter is more likely to reflect the opinion of the majority), journalists are one of the most influential forces on consumer  and investor sentiment and behaviour around.

A recent survey by CoreData found people were more likely to turn to the general and financial media for advice when making financial decisions than to a professional adviser.

That’s good news for the media, in that it is reflective of the perceived quality of the information being disseminated.

But it proffers a huge challenge for the financial services industry and the people whose job it is to provide a service intended to enrich people’s lives.

*Data sourced from CoreData’s 2010 Media Survey