A new survey run earlier this month has revealed a dip in support for the Coalition government and its leader Scott Morrison among financial advisers and wealth management professionals in the aftermath of the federal budget and Labor’s reply.
According to the second reader survey conducted by Momentum Media’s research house, Momentum Intelligence, while advisers still prefer a Coalition government over Labor, support for the government has dipped by 13 per cent in the 4 months since the initial survey took place in December.
Conversely, the primary vote figures showed a 6 per cent lift in support for Labor, while survey respondent who are now either undecided or are voting for “others” increased by 8 per cent.
And while Anthony Albanese still only holds the sympathies of 34 per cent of the surveyed advisers and wealth managers, the Labor leader’s popularity did increase by 9 per cent in the 4 months to April, while that of the current PM Scott Morrison dipped by 6 per cent.
The shift towards Mr Albanese has been described as “major” by the director of Momentum Intelligence, Michael Johnson.
“The financial advice industry has long been frustrated with the challenge regulatory and policy environment of the Coalition government and as the election approaches, we are seeing this play out in the primary vote statistics of this poll,” Mr Johnson said.
“According to our latest results, many financial advisers are dissatisfied with the current level of support, financial and otherwise, they are receiving from the government,” he continued.
In fact, the survey revealed that advisers and wealth managers are the least satisfied when asked to evaluate the support offered by the federal government.
As many as 31 per cent of the 255 respondents said that the support offered to the industry has been “very poor”, while 23 per cent evaluated it as “poor”. Conversely, only 15 per cent of respondents found the backing appropriate.
Looking into the industry’s voting considerations also revealed slight changes since December. The most is the placement of climate change which now garnered 49 per cent of votes compared to 38 per cent in December.
The economy, however, still remained the number one consideration with 67 per cent, followed by taxation with 58 per cent.
Gender issues (14 per cent), sexual harassment (16 per cent) and humanitarian concerns (19 per cent) remained on the other end of the scale.
More insights to come.
LNP failure to acknowledge Experience with existing Financial Advisers will cost them many votes which was their traditional vote base
Honestly, the only logical conclusion one can arrive at if an adviser votes for the coalition, is that they are a masochist
The Liberal Democrats (Lib Dems) policies target lower taxes, smaller government, simpler superannuation and overall greater ability for adults to have responsibility and control over their lives. Well worth considering.
I agree. Very much so. They have my vote.
Anyone who received Job Keeper and employers whose employees were paid Job Keeper so they could keep their businesses afloat need to show a little gratitude.
First Home Owners who are have been able to buy and are now living in their new homes with 5% deposit (rather than needing 20% deposit) and avoid paying $10k to $15k Lenders’ Morgtage Insurance (LMI) because the Liberal Coalition’s First Home Loan Deposit scheme (which was an election promise that was kept) need to show a little gratitude.
The fact that we can afford to focus on higher order needs (based on Maslow’s Heirachy of Needs) rather than on lower order needs like food, shelter and security is because of the Liberal Coalition government’s stewardship of the economy if very very difficult times (fires, COVID, floods and war in Ukraine).
So rather than bite that hand that feeds you, how about a little gratitude.
thank you very much Morrison, Hume, Frydenberg, O’Dwyer for Job Keeper and the FHLDS…
There are so many things wrong with this.
First, the Jobkeeper ended up funelling hundreds of millions to Big Business and billionaires; both Australian and international businesses and billionaires.
Second, the ridiculous, market distorting, federal guarantee on housing deposits have placed the most vulnerable into a situation which will bankrupt them when rates increase , and which will saddle the taxpayers with massive losses due to negative equity. This scheme is contrary to what the Liberals should be doing. As in fact is their eye watering trillion dollar debt.
I’ll be thankful when Frydenberg is no longer treasurer, Morrison gone and Hume no longer in a position to continue taxing our industry and imposing ridiculous levels of red-tape.
What Industry you will be at aware super talking about the balanced investment choice or the sub prime IP policy they have….:lol:
The current Morrison government are indeed THE most vile, evil, cruel, uncaring swill of fools ever elected to office. Their legacy are destoryed families, poor and in massive debt people, broken destroyed or fractured businesses with red tape beound the sane. As someone who almost ended his life because of the red tape garbage I had to put up with, even after passing FASEA and working towards a Masters in FP, this govertnment needs to be removed from office and an Independent Corruption body with the ability to jail current and former politiciains for corruption needs to be brought in immediately. If not…we have notrust in politicians.
The gratitude goes to the taxpayer (and their great grandkids via debt instruments) that fund these hand outs, that are very selectively distributed. You do not deserve gratitude for spending other people’s money.
Pretty sure Job Keeper was mooted by Labour…
Thanks Josh…..
Whoever has the time to sit and down vote this 369 times has the lost the right to complain that government regulation has made them too time poort
No.
I remember the days back in the mid 2010’s when labor was in government, and we struggled to find food, water and shelter. Thank god the Libs got in and built us all houses, roads, and provided food.
Maybe Politicians should show gratitude for their position in society, how their jobs are provided by the taxpayer, how their decisions impact industries.
Bloody hard choice, as on one hand we have the LNP who I think have done a pretty ordinary job over the last 6 years, and on the other we have Labor who have a few slogans but no real plan for the future.
The saving grace is that at least a change in government isn’t going to bring bloodshed like we see in other countries.
Take a look at comments by economists as to BOTH party’s and we are not going anywhere as a nation. Consider that out of 26,000,000 people, 17,000,000 will vote. Cosider also that out of 12,500,000 working, 6,500.000 receive the low income tax offset. That is this cohort are either casual or part time but are NOT on full time wages. Now consider that this infers that we then have 6,000,000 full time workers. Fron this then consider we have 2,200,000 public servants working in either state, local or federal government., This means that out of 6,000,000 full time workers, 1/3rd are working for the public service. WTF. By the way, my source is the Australian Bureu of Statistics. Labor or Liberal, are a joke. To quote Bill Hayden (former Labor minister) a drovers dog could run this place better…..
The Libs deserve everything that is coming their way at this election. However the scary thing is the ALP is certainly not any better, and in many ways a lot worse.
Agreed, it doesn’t really leave any good voting options. Think it’ll be protest voting against the two majors in May.
Whatever the case, there’s more to governing the country than my issues. I think it’s gotten as bad as it’s going to get for us, & let’s not forget, it was driven by the labor government from the get go. I’ve watched Albanese closely, & am convinced with the extra challenges facing us all vis a vis security, economic growth, basically putting everything right again after covid, I cannot have any faith in Labor bearing in mind their history, & this bloke looks about as much a dead loss as Rudd/Gillard……
It was not driven by the Labor government. They drove a Royal Commission into the Banks; the Liberals pivoted that to be focused on financial advice. The banks were left alone; no out of cycle interest rate investigations, no exorbitant exchange rate investigations etc.
The current Liberal Govt has consistently treated financial advisers with disrespect & complete ignorance.
They have overseen a systematic dismantling of an industry and the destruction of small business on their watch and they deserve nothing more than the level of disdain they have shown toward advisers.
Morrison & Frydenberg have no consideration or appetite of concern in this space whatsoever.
They are very similar personality types and are therefore not suitable in relation to the understanding & empathy that is required to save and rebuild the ashes of what is left of this business they have burnt to the ground.