Planners make Aussies happy
No matter how much money Aussies have, those who consult a financial planner are happier and more positive about their financial well-being, according to the Financial Planning Association (FPA).
Kicking off the FPA's 15th Financial Planning Week, FPA chief executive, Mark Rantall, said according to Investment Trends, 8.5 million Australian adults have unmet advice needs and 34 per cent of Australians are concerned they will not have enough money to retire on.
"The role of financial planners is to find out their clients' pain points and to help alleviate that stress," Rantall said.
"Financial pressure is a major source of stress for many Australians and depending on your life stage the trigger for this stress will be different. Recent Investment Trends research shows that inflation, rising prices, and having sufficient money to retire on are ranked among the biggest concerns."
Rantall noted clients using a planner in Australia rose to 2.5 million last year, up 100,000 from the year before.
"[This] is clear evidence that the value of quality financial advice is being recognised," he said.
"We encourage all financial planners to use Financial Planning Week as an opportunity to spread the good word about the positive impact of their work on their local community and more broadly."
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