High-net-worths self-directed – study
Age is not a barrier to Australians using online trading in shares, according to new research released today by Macquarie Private Wealth.
The research, The Profile of Private Wealth in Australia: An Insights and Trends Study, conducted by Taverner Research, revealed that online trading was particularly popular among those headed toward retirement, with 60 per cent of high-net-worth investors who trade via the Internet aged 60 years or over.
Commenting on the findings, Macquarie Private Wealth DirectTrade head of online trading Tim Keegan said it was encouraging to see Australians of all ages taking advantage of the opportunity to trade online, especially older generations.
The research material suggested that high-net-worths had a high level of confidence in making their own investment decisions and that 90 per cent of those who traded online were happy to make major investment decisions based on their own research.
The study found that 92 per cent of high-net-worth investors who traded online regarded themselves as very or somewhat confident when making their own investment decisions, and 90 per cent of those who traded online were happy to make a major investment based on their own research.
However, the research also suggested that the value of professional advice was still well-regarded by these people, with 20 per cent of those trading online also using the services of a financial adviser.
AUTHOR
Mike Taylor
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
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.
