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.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
