For Consumers

For Advisers

Connect with us

MENU
FIND AN ADVISER

Media | Search

In Brief: July Edition  

Do you have a good advice story?

Are you an adviser with a customer who'd like to tell their story how your advice helped them?

Are you a customer with a good story about how advice has added value to your life?

Tell us about it

How to get financial advice without forking out $3000

« back to media

20/04/2021 by Aleks Vickovich, Australian Financial Review

Article link: https://www.afr.com/wealth/personal-finance/how-to-get-financial-advice-without-forking-out-3000-20210419-p57kcu

Statistically speaking, somebody reading this article is unlikely to receive professional financial advice.

According to the latest figures from research house Adviser Ratings, Australians with an adviser made up just 11.2 per cent of the population in 2020, down from 12.2 per cent the year before.

That comes despite the fact that more than 60 per cent of people believe there is value in receiving advice. With an ageing population, wage growth sluggish and global sharemarkets experiencing wild swings, there is certainly no shortage of the need for it.

While the median fees charged are now north of $3000, that is not to say that all advisers charge that much.

The lowest rate card identified by Adviser Ratings in 2020 was the more affordable $750 per annum, which is less than you would pay for a gym membership for a service more akin to personal training.


Comments

No comments added.


Add comment

Name

Email

Comments

Enter code:*

Add comment


« back to media