Retail investors warming to planners: ACNielsen

A survey by ACNielsen Australia has found that nearly three-quarters of 3,000 respondents hold a positive impression of the services offered by planners.

The latest bi-annual Wealth Management Report found 73 per cent of respondents cite planner guidance as having a positive impact on their investment performance during the year, up 6 per cent on a year ago and an increase of 32 per cent since 2003.

The survey reveals the “reputation of financial advisers continues to rebuild”, according to Glenn Wealands, financial services director.

“This is reflected in an increased number of advisers becoming more frequently sought for their professional advice on selecting managed fund providers.”

When selecting a new fund manager, according to the survey, 16 per cent of respondents cited planner recommendations as the most important criteria, up 6 per cent from 18 months ago.

Past performance (21 per cent) and a fund’s investment strategy (18 per cent) continue to be the top drivers in the selection of a new fund.

A total of 27 per cent of managed fund holders expect these to be their best performing investment over the next 12 months, up from 15 per cent six months ago.

Australian shares are still expected to be the number one performer over the next 12 months, although this has declined by 17 per cent in the past six months.

Another key finding is that consumer appetite for switching superannuation funds has not changed over the past 12 months under super choice.

A total of 18 per cent of respondents cited some intention to switch providers, compared to 17 per cent in an ACNielsen survey on the eve of the launch of choice last year.