Younger investors engaging more with advisers

New investors are engaging more with financial advisers and have positive perceptions regarding their investments while wealthier, older investors are concerned for the future, new research has revealed.

National financial services group Australian Unity has announced the key findings of the latest Financial Advice Satisfaction Index, which is compiled based on a survey conducted by the University of Adelaide International Centre for Financial Services and sponsored by Lifeplan Funds Management - a part of the Australian Unity Group.

The index reveals investors’ attitudes towards financial advisers, including perceptions of trust and reliability, technical ability and investment performance.

In a statement yesterday, Australian Unity said the research found that while wealthier investors aged over 60 are worried about the future of their investments, new investors are engaging more with financial advisers and benefiting from the recent positive results from the capital markets.

General manager of life and super at Australian Unity Wealth Matt Walsh said the findings confirmed the need for advisers to remain vigilant in communicating with investors with varying needs and expectations, while ensuring their different concerns are addressed.

“The financial advice industry needs to consider how to reassure older investors and how their portfolios may need to be adjusted, to ensure these investors are prepared for future market conditions,” Mr Walsh said.

“Newer investors, meanwhile, who have recently started taking investment advice, have positive perceptions regarding their investments; a result that we believe in part reflects the advantage of taking professional financial advice, and in part the recent positive results from the capital markets,” he said.

The index also showed an increase in client satisfaction towards advisers in the areas of “performance” as well as “trust and reliability”, however the perception of advisers’ “technical abilities” decreased, the statement said.

The Financial Advice Satisfaction Index is compiled based on the findings of a survey of approximately 400 respondents.

promoted stories

SUBSCRIBE TO THE IFA DAILY BULLETIN

News

Business Strategy