Aussies say ‘she’ll be right mate’ to their finances
Most Australians seemed to follow a "she'll be right mate" mentality when it comes to their financial health, with eight out of 10 not seeking professional financial advice, according to the Association of Financial Advisers (AFA).
AFA's chief executive, Brad Fox, said Australians tended to have a "do-it-yourself", last minute approach to their finances, and planning for major milestones such as marriage, children, home ownership, superannuation, retirement, illness and accidents.
"Australians so often seek counsel from experts who can teach, advise and hold them accountable to their goals, yet can be quite reluctant to seek professional help about their financial health," Fox said.
"What they miss out on are the opportunities that come from planning ahead, speaking openly with family and friends, and also getting advice early from a professional."
Australians must engage in thorough research when choosing their adviser, and make sure they are confident in the adviser they see.
"It's more than just a transactional service, relationship, they become colleagues who work with you to achieve financial success," Fox said.
AUTHOR
Malavika Santhebennur
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