Adviser approval hits high among Aussies
Australian clients are the most satisfied with their advisers in Asia, and come second in all major global markets, Legg Mason research showed.
The Legg Mason Global Investment Survey showed 40 per cent of the survey respondents said they were satisfied with their adviser's services, compared to the global average of 14 per cent.
More than half the respondents (58 per cent) said the main benefit of an adviser was formulating a plan to meet their financial goals, compared to 34 per cent globally.
Other benefits include avoiding expensive mistakes (47 per cent), and knocking on different doors to investment of which they would not be aware (43 per cent).
"Australian investors have enjoyed a buoyant market, and their advisers deserve credit for capturing that upside," global head of distribution marketing Matt Schiffman said.
But the areas that need improvement include lower advisory fees (36 per cent), being more proactive (30 per cent) and seeking innovative investment solutions (24 per cent).
"Local investors are after a back-to-basics approach with more of the simple things — low costs, greater engagement and more creativity in the solutions advisers bring to the table," Schiffman said.
He added the survey showed there is a desire for new and different methods to wealth creation, especially in the retirement space.
The survey looked at 4,200 investors in 20 key markets, including 200 high net worth Australian investors.
Recommended for you
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
As reports flow in of investors lining up to buy gold at Sydney’s ABC Bullion store this week, two financial advisers have cautioned against succumbing to the hype as gold prices hit shaky ground.
After three weeks of struggling gains, this week has marked a return to strong growth for adviser numbers, in addition to three new licensees commencing.
ASIC has banned a Melbourne-based financial adviser who gave inappropriate advice to his clients including false and misleading Statements of Advice.
