Advisers pass consumer test
Positive investor sentiment towards advisers has increased over the past 12 months, accompanied by a marked improvement in sentiment towards managed investments, according to new research by the Investment and Financial Services Association (IFSA).
Conducted by Taverner Research in July, the research found that 86 per cent of Australians who currently use an adviser are satisfied with the quality of the advice they receive.
Satisfaction with advisers was found to be highest amongst investors who have a face-to-face meeting with their adviser at least every six months.
The research also found that six in 10 Australians with a current managed investment use an adviser.
IFSA chief executive Richard Gilbert said the findings indicate investor attitudes towards advisers and their services are “positive, and becoming increasingly so each year, contrary to some perceptions in the community”.
Investors who currently use an adviser were also found to be more satisfied with the performance of managed funds and superannuation over the past year than investors who do not currently use one.
The biggest gap in sentiment related to fees and charges, where investors feel that more improvements can be made.
Investors perceive managed funds to have performed “slightly better” than superannuation or investment property over the past 12 months, though not as well as direct shares, according to the research.
Recommended for you
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
