Face-to-face advice still trumps online
Despite the emergence of robo-advice, most clients still want to meet their financial planner face-to-face, research shows.
When it comes to initial consultations, 80 per cent of surveyed clients said face-to-face was their preferred method, according to State Super Financial Services' report, which scoped the opinions of more than 2500 public sector employees.
However, after that initial consultation, almost half (47 per cent) said they were happy to continue the professional relationship via phone or the internet.
The survey reflected the importance of planners establishing trust and rapport at the onset, State Super Financial Services general manager of financial planning, Sean Bradley.
He said lack of knowledge and experience, as well as uncertainty about legislation, stood as clear barriers to public sector employees seeking advice.
"Half of those surveyed said having a financial plan in place would give them greater confidence, however, we know that significantly fewer seek advice," Bradley said.
"Like all employees, those in the public sector will benefit from advice the earlier they seek and receive it. However, it's important in so doing they seek it from a financial planner who is understands their special superannuation environment."
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
