Society of FSP Survey: Key Findings

Transcription

1 Member Preferences and Satisfaction Society of FSP 2011 Survey: Key Findings FSP Members were surveyed in May and June of 2011 on a broad series of questions regarding the member benefits they seek from professional and trade associations and the degree of satisfaction with the benefits they receive from the Society of FSP. The objective of the surveys was to provide insights on member opinion so that the leadership of the Society can address improvements in programs, services and benefits to address member preferences and needs. An ancillary objective of the study was to determine how best to position the Society to potential members. The results are based on a sample of 1426 respondents.

2 Table 1 Importance of Broad Benefits Offered by Professional and Trade Associations Professional development programs and resources to improve my knowledge and productivity Timely updates and education on regulatory and legislative issues that affect my practice/profession Programs and standards that enhance the image of my profession Representation with regulators and legislators on behalf of my profession/industry Tools and resources to help me grow my client base and advance my career Opportunities to network and share ideas with other professionals Online access to information and discussion forums Very Somewhat Not Very Not al All Single most 78% 19% 2% 0% 49% 69% 27% 4% 0% 11% 57% 35% 7% 1% 8% 56% 32% 10% 3% 14% 43% 40% 14% 3% 5% 40% 45% 13% 2% 10% 36% 44% 17% 4% 3%

3 Table 2 Top 20 Most Specific Benefits Offered by Professional and Trade Associations Very Somewhat Not Very Not al All Clear standards for ethical behavior 78% 20% 1% 1% Enforcement of ethical standards 78% 19% 2% 1% Promotion of public recognition of financial credentials and designations 66% 28% 5% 1% Access to cutting-edge educational content 60% 35% 4% 0% Rigorous membership qualifications, such as required credentials 58% 35% 5% 1% Promotion of the association as a consumer finance resource 50% 35% 12% 3% Dissemination & interpretation of regulatory requirements 46% 43% 10% 1% Access to experts in my area of professional specialization 43% 44% 11% 2% CE programs through local Chapters 42% 35% 17% 7% Information on industry trends and developments 39% 53% 7% 1% Access to CE programs for multiple designations from one source 38% 39% 17% 6% Opportunities to network with successful professionals 33% 45% 18% 4% Insightful publications covering a broad range of topics 30% 55% 13% 2% Member discounts on CE programs 30% 38% 23% 9% Online delivery of CE programs 29% 38% 23% 9% Networking with professionals in my practice specialty 29% 48% 19% 4% Guidance on meeting fiduciary standards 28% 46% 22% 4% Networking events at local Chapter 27% 40% 27% 7% Networking with professionals in different disciplines 25% 48% 23% 5% Knowledge resources with a multidisciplinary focus 24% 51% 22% 3%

4 Table 3 Membership in Other Associations and Which Associations Provide Most Overall Value Note: First 2 columns indicate the percent of Society members who are also current or former members of the other association. Current Member Former Member Most Overall Value Society of FSP 100% 0% 53% NAIFA 48% 19% 14% Estate Planning Councils 28% 12% 5% Includes NAEPC MDRT 18% 15% 5% FPA 12% 7% 4% NAHU 9% 6% 2% AALU 7% 9% 3% State/Local CPA Society 4% 1% 1% *Includes AICPA State/Local Bar Association 4% 1% 2% *Includes ABA AICPA 3% 1% * CPCU 3% 1% <1% GAMA International 3% 8% American Bar Association 2% 3% * NAILBA 2% 1% <1% NAPFA 2% 1% Institute of Certified Bankers 0% 0%

5 Table 4 Value of Society of FSP Compared to Other Associations Most valuable 22% More valuable than most other associations 33% About as valuable as other associations 36% Not as valuable as other associations 10% Table 5 Overall Satisfaction with Society of FSP Extremely Satisfied 18% Very Satisfied 41% Somewhat Satisfied 33% Not Very Satisfied 7% Not at All Satisfied 2% Table 6 Source of Primary Membership benefits FSP National 31% FSP Chapter 36% Both 33%

6 Table 7 Satisfaction with Current Society of FSP Benefits Very Satisfied Somewhat Satisfied Not Very Satisfied Not used, Familiar Journal of Financial Service Professionals 56% 34% 4% 5% Clear standards for ethical behavior 49% 35% 7% 5% Access to CE programs through local Chapters 39% 26% 14% 13% Access to CE programs for your credentials/licenses 36% 32% 7% 17% Information on industry trends and developments 33% 44% 9% 6% Dissemination & interpretation of regulatory requirements 29% 43% 12% 7% Professional Interest Section newsletters 28% 39% 13% 12% Keeping Current 27% 34% 8% 19% FSP NewsBriefs (weekly electronic newsletter) 26% 41% 11% 14% Enforcement of ethical standards 26% 32% 12% 11% Networking with local Chapter members 26% 32% 14% 17% Cost of educational programs 25% 39% 19% 9% Opportunities for volunteer leadership 25% 24% 4% 23% Video Teleconferences (VTC) at local Chapter venue 24% 25% 14% 23% Information resources on the Society s Web site 22% 34% 9% 21% Society Page (member newsletter) 22% 47% 11% 11% Access to cutting-edge technical education 21% 33% 8% 18% Society s customer service 21% 24% 6% 20% Audio-conferences/Webinars (live) 20% 30% 11% 27%

7 Table 8a Most Reasons for joining the Society of FSP Benefits Note: Respondents were asked to name 5 reasons. Quality of educational programs 66% Journal of Financial Service Professionals 60% Quality of Chapter programs and events 46% Access to CE programs across multiple disciplines 45% Society s ethical standards and guidance 40% Prestige of belonging to the Society 36% Professional Interest Section newsletters 30% Networking opportunities with successful professionals at Chapter events 30% Information available to members on the Web site 29% Networking opportunities with experts through FSP events 23% Table 8b Other Reasons for joining the Society of FSP Benefits Note: Respondents most frequently volunteered these items. All-round professional support that helps you become successful/serve clients better. Value offered for the price. Networking opportunities (Chapter-oriented) Contributes to professional development/ce Opportunity to give back to the industry/profession Prestige of belonging to a professional organization Exposure to multidisciplinary perspective/professionals Leadership Training