Australians still crave professional assistance to reach their retirement goals, according to the latest research from Investment Trends.
The latest Investment Trends Retirement Income Report has revealed that while Australians are generally feeling better about their preparedness for retirement, it still remains a concern for them creating scope for superannuation funds and financial planners to lay a key role.
“Many Australians are concerned they will not be able to reach their retirement goals, and only one in three believe they can do so without the help of professional assistance,” Investment Trends senior analyst, King Loong Choi said.
“This highlights the important role that advice providers play in helping Australians along their retirement journey, and in helping them achieve their retirement goals.”
The research confirmed that super funds and financial planners were key players in helping Australians reach their retirement goals and that when seeking help with their retirement goals, Australians were most inclined to turn to a financial planner (33 per cent) or their super fund (25 per cent) for assistance.
“Opportunities abound for both financial planners and super funds given the level of interest shown by Australians for further assistance,” Choi said. “Right now, individuals with a super balance less than $100,000 are just as likely to seek help in achieving their retirement goals from planners as they are to seek help from their super fund.”
However, he said the story was different among those with a super balance greater than $100,000 where financial planners were significantly more preferred.