What percentage of Australians use a financial planner?

New research from Roy Morgan shows that as of May 2018, 1.96 million Australians 14+ (9.7%) have used a financial planner/adviser to purchase superannuation or managed funds.

How many financial advisors are there in Australia?

25,386 financial advisers
More recent information from ASIC shows that, as at 1 April 2018, there were 25,386 financial advisers registered in Australia,27 an increase of around 41% compared with the number of financial advisers in August 2009.

Are financial planners in demand in Australia?

CoreData’s COVID-19 research conducted in August revealed that the pandemic has prompted more than one in four (25.7%) Australians to seek affordable advice and support from a financial planner to help strengthen and protect their financial position post-COVID-19, with demand being highest among Gen Y (32.2%).

How many independent financial advisers are there in Australia?

One potential disadvantage of using an independent financial adviser is their relative scarcity. At the time of writing, there are fewer than 70 independent financial advisers in Australia who are members of PIFA.

Can financial planners be trusted?

An advisor who believes in having a long-term relationship with you—and not merely a series of commission-generating transactions—can be considered trustworthy.

Why are financial planners leaving the industry?

Financial advisers leave sector ‘in droves’ due to ‘unfair’ regulatory compliance burdens, consumers pay more. Financial advisers fled the sector ‘in droves’ after the banking royal commission, leaving only the wealthy able to afford their services.

Why are financial advisers leaving the industry?

Is financial planning a good job in Australia?

It’s been shown that Australians who consult financial planners become more optimistic about the future than those who don’t1. As a financial planner, you can earn a great salary and have the flexibility and freedom to work how you want – whether that’s with a small or large business, or setting up your own practice.

Is there a future in financial planning?

No, financial advisors will not become obsolete. They WILL have to change and evolve, but they’re here to stay. There will always be a place for client-focused financial advisors who work hard to add value to people’s lives.

What percentage of Australians use a financial planner? New research from Roy Morgan shows that as of May 2018, 1.96 million Australians 14+ (9.7%) have used a financial planner/adviser to purchase superannuation or managed funds. How many financial advisors are there in Australia? 25,386 financial advisers More recent information from ASIC shows that, as at…