Support grows for planners
Financial planners are increasingly the first point of contact for consumers seeking financial advice, according to the latest Financial Planning Association (FPA) survey.
Financial planners are increasingly the first point of contact for consumers seeking financial advice, according to the latest Financial Planning Association (FPA) survey.
According to figures coming from Roy Morgan research, 32.3 per cent would con-sider approaching a financial planner or adviser for financial guidance. This is up 3.5 per cent from the survey in August last year.
Next in line for advice was family (31.5 per cent), accountants (27.9 per cent) and managers of banks, building societies and credit unions (27.9 per cent).
Accountants continue to decline as intended sources for financial guidance, re-cording a two per cent decline over the past three years, according to the FPA.
FPA chief executive Michael McKenna says Australians are now treating financial planners like doctors.
"Just as we pay a doctor to look after our physical health, consumers are aware of the need to employ a professional financial planner to oversee their financial health," McKenna says.
"More and more Australians are recognising that financial planning is a specialist, professional skill."
The figures also show a record number of Australians are seeking advice from qualified financial planners. More than one third, or 36.1 per cent, of people aged over 14 have sought financial advice.
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