Increased need for financial advice
The Financial Planning Association's (FPA's) Ask an Expert initiative received more than 90 requests this year, which points to a stronger-than-ever need for financial advice, the association says.
The initiative was part of the 13th annual Financial Planning Week, which aimed to educate the Australian public about the value of financial advice.
Superannuation and retirement planning emerged as key topics and areas of concern, attracting the highest number of questions and engagement online.
FPA chief executive officer Mark Rantall said another encouraging trend which emerged this year was increased involvement by the younger demographic.
"The interest from people of all ages and walks of life goes to show that quality financial advice is universally beneficial, whether you are entering retirement or looking to open your first bank account," Rantall said.
"FPA research shows that just 61 per cent of Australians receive quality financial advice, despite the massive impact it can have in consumers' lives," he added.
"Access to quality financial advice is truly a national issue."
The Ask an Expert initiative and the Find a Planner tool on FPA's website received more than 10,000 visits during Financial Planning Week, Rantall added.
AUTHOR
Milana Pokrajac
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