Aussies eager for advice

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Results from the 13th annual Financial Planning Week indicate that the need for access to quality financial advice is stronger than ever, with more than 90 questions submitted to the FPA experts and more than 10,000 visits to the ‘Ask an Expert’ page.

Superannuation and retirement planning emerged as key areas of concern for Australians during Financial Planning Week, attracting the highest number of questions and engagement online. Another major demographic seeking financial advice was young people planning for their first home or kicking off a savings plan.

Research commissioned by the FPA in August revealed that only one in three (34%) Australians know where to find a financial planner they can trust. Yet, the results of the week showed that when it is made available, financial advice is highly valued by Australians of every demographic.

Mark Rantall, CEO of the FPA said the interest from people of all ages showed that quality financial advice is universally beneficial.

“FPA research shows that 61% of Australians do not receive financial advice, despite the massive impact it can have in consumers’ lives. Access to quality financial advice is truly a national issue, which is why we are so pleased to see Financial Planning Week achieved its goal of engaging Australians in benefiting their financial futures through trusted advice.”

More than 70 financial planners volunteered to answer queries for the ‘Ask an Expert’ site, while topic experts blogged on key issues relating to retirement, saving, superannuation, debt and life insurance.

“FP Week benefitted not only consumers but our members as well, with a 200% increase to the FPA’s ‘Find a Planner’ page during Financial Planning week as compared to the weekly average. In fact, half of the FPA’s 10,000 member practitioners received page views to their ‘Find a Planner profile’ during Financial Planning Week,” said Rantall.

FPA member, Renee Hush took part in Financial Planning Week and wrote a blog on the most popular topic of the week, superannuation and retirement.

“As Certified Financial Planners, we continue the work of Financial Planning Week in our everyday lives, promoting the importance and impact of financial advice through our work with clients. It has been a great experience dealing with members of the public who do not generally seek advice but see the benefits it can offer to their lives. I support the FPA in these initiatives and will continue to promote increasing access of qualified financial advice for all Australians.”