Researched Benefits of Financial Advice
According to the Investment and Financial Services Association, people who received financial advice saved $2,457 more each year than those who had not received financial advice, according to a KPMG Econtech research report.
This suggests that people receiving financial advice could be $49,140 better off over 20 years.
Sourced from Investment and Financial Services Association ‘Value Proposition of Financial Advisory Networks’.
The Financial Planning Association (FPA) of Australia has conducted research on consumer attitudes relating to financial advice. The results show a significant inclination towards the benefits of receiving advice, these include –
- 38% of Australians say they regret not having done more financial planning or seeking expert advice.
- Nine out of ten Australians who have used a financial adviser have benefited from the experience.
- 82% of people that use a financial adviser say that the most important element of a successful financial plan is that their adviser has knowledge about a range of issues that can be tailored to individual needs.