Federal election boosts planner sentiment

The election of a Coalition Government has led to a significant improvement in financial planner sentiment, according to the latest data released by Wealth Insights.

The data, the result of a survey of around 300 financial planners in the fortnight immediately following the Federal Election, has seen a startling turnaround in sentiment, which in the months running up to the poll had plumbed depths close to those witnessed during the dark days of the global financial crisis (GFC).

Commenting on the results, Wealth Insights managing director Vanessa McMahon said the result was undeniably linked to the outcome of the Federal Election — and the expectation that a Coalition Government would be altering what were perceived to be some of the worst elements of the Future of Financial Advice changes.

She said the result had been that the Wealth Insights Adviser Sentiment Index had risen to 55 points — the highest level it had reached since before the GFC.

McMahon said planner positivity had been reflected in other elements of her company's research, with business expectations moving back into more positive territory.

She said the business outlook was the best it had been in five years, with over two-thirds of advisers expecting their businesses to be better off over the next 12 months.

As well, McMahon said that two-thirds of the advisers surveyed expected above-average returns on a typical portfolio over the next 12 months.