A charitable foundation has been established by the FPA to support advisers' philanthropic work in poorer communities.
Almost three-quarters of Australians have experienced financial difficulty, a recent survey by the organisation found.
At the start of the seventh annual Financial Planning Week, FPA chair Corinna Dieters announced the launch of Future2 in Sydney yesterday.
"The FPA has taken the first step towards developing a framework of social responsibility which incorporates philanthropy, literacy and the community," Dieters said
"It will provide support to the financially underprivileged. We all, as professionals, have the obligation to act as responsible citizens."
The foundation will support the pro bono work already being done by FPA members and help them take part in grassroots projects in their communities.
Future2 has applied for charitable status. Its foundation was driven by former FPA chair Ray Griffin and David Haintz is its nominated trustee.
"Certainly a major concern for the FPA is the fact that the regulatory framework that we all operate in makes it very expensive to deliver advice to all Australians and certainly puts it out of reach to many Australians," Dieters said.
The FPA is working with the Government, treasury and the regulator to make practical changes to the regulatory regime to make financial advice more affordable, she added.
Guest speaker, Sunrise co-host David Koch said: "This is a golden opportunity for this association to set a level of values that they want to be judged by; a level of values that they're putting back into the community."
The Value of Advice Awards entry deadline has been pushed back to May 28.
