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What Would You Pay for Financial Advice?

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2 August 2022 by Robin Bowerman, Australian Financial Review

Article link: https://www.afr.com/wealth/personal-finance/what-would-you-pay-for-financial-advice-20220728-p5b5df

With wars, falling sharemarkets, rising inflation, lower property prices, higher interest rates and super balances taking a hit, the new financial year is rife with challenges for investors.

But hidden among the various market ructions is a growing problem for many investors – where to turn to for simple, affordable financial advice.

Research by Adviser Ratings highlights the widening gap between the cost of delivering advice and what investors are prepared to pay. It says 64 per cent of investors who want advice will pay only around $500. This is despite Vanguard research proving that advice – whether delivered by a human or digitally – can add value to investors, with human-advised clients attributing 5 per cent of their portfolio value to advice and for digitally-advised clients, 3 per cent.

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