Planners ready to do it for less
Tough times appear to have changed financial adviser attitudes, with the latest research commissioned by ING suggesting advisers are now more willing to lower their investable assets threshold for new clients.
ING Australia commissioned Nielsen to survey over 700 consumers and more than 250 financial advisers in June and July and although the research found that a majority of advisers still considered investable assets of $100,000 or more as appropriate and serviceable, an increasing number will now consider less than $100,000 and even $50,000 adequate to receive financial advice.
Commenting on the results, ING Australia executive director of sales and marketing Ross Barnwell said that while advisers were still chasing the top end, their expectations had moderated.
The research also found that investment advice provided by financial planners was rarely accepted in full, with only 16 per cent of clients fully following their adviser’s advice.
AUTHOR
Mike Taylor
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