Face-to-face advice still trumps online
Despite the emergence of robo-advice, most clients still want to meet their financial planner face-to-face, research shows.
When it comes to initial consultations, 80 per cent of surveyed clients said face-to-face was their preferred method, according to State Super Financial Services' report, which scoped the opinions of more than 2500 public sector employees.
However, after that initial consultation, almost half (47 per cent) said they were happy to continue the professional relationship via phone or the internet.
The survey reflected the importance of planners establishing trust and rapport at the onset, State Super Financial Services general manager of financial planning, Sean Bradley.
He said lack of knowledge and experience, as well as uncertainty about legislation, stood as clear barriers to public sector employees seeking advice.
"Half of those surveyed said having a financial plan in place would give them greater confidence, however, we know that significantly fewer seek advice," Bradley said.
"Like all employees, those in the public sector will benefit from advice the earlier they seek and receive it. However, it's important in so doing they seek it from a financial planner who is understands their special superannuation environment."
Recommended for you
A Gold Coast-based financial adviser has been banned for four years by the corporate regulator after he provided inappropriate advice for Next Generation Advice regarding speculative and illiquid investments.
With $34.9 million in cash on its balance sheet, Fiducian executive chairman Indy Singh has said the licensee won’t be rushed into making large advice acquisitions or paying out special dividends.
ETF provider VanEck is set to launch its latest smart beta ETF – the MSCI International Growth ETF– ushering in a new growth international equities strategy.
Advancing research on the use of artificial intelligence in financial services, AMP has announced a strategic partnership with UNSW Sydney.
