Survey reveals adviser demand by investors

Fortyper cent of proactive investors achieve their investment goals with the help of a financial planner, while 72 per cent seek advice from an independent expert such as an accountant or stockbroker before making an investment decision, according to a new study released last week.

The Challenger/Assirt Proactive Investors Survey, which interviewed 2,000 people across Australia, found 44 per cent of people are proactive investors who hold investments beyond the family home and compulsory superannuation.

The study found 34 per cent of these investors own shares, 24 per cent hold cash-based investments, 19 per cent have managed funds and 16 per cent own an investment property.

The survey also revealed that the likelihood of using a financial planner increases from 40 to 60 per cent if the investor holds managed funds.

According to the survey results, 38 per cent of proactive investors still know nothing or little about managed funds.

“Our research highlights that there is still a large number of investors who do not understand managed fund products well enough to feel comfortable choosing them as an investment option,” Assirt market research manager Vanessa McMahon says.

“So it is not surprising that those investors with managed funds are 50 per cent more likely to have a financial planner. This shows financial planners are doing a good job educating investors about the full range of their investment options.

“Households with an annual income of less than $50,000 are just as likely to use a financial planner as those with incomes closer to $150,000,” McMahon says.