Acceptance of financial planners growing – survey
Financial planners are now an accepted part of the superannuation industry, according to a survey conducted by Money Management’s sister publication, Super Review.
The IUS/Super Review survey, conducted through March and April, revealed that an overwhelming 89.4 per cent of respondents believe planners are now important to the superannuation industry, but there is still strong resistance to the use of commissions in the provision of planning.
Asked whether appropriate advice could be given to superannuation fund members in circumstances where planners were being paid by way of commissions, 70.8 per cent of respondents said ‘no’ while only 29.2 per cent believed commissions would have no impact.
Perhaps offsetting this negativity was the survey’s findings that respondents were heavily in favour of superannuation fund members being allowed to use a portion of their superannuation to pay for appropriate financial advice.
The survey found 80.7 per cent of respondents agreed that it would be appropriate for super fund members to use a portion of their super to pay for advice, while 19.3 per cent of respondents were opposed to the idea.
AUTHOR
Mike Taylor
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