Planners win kudos on satisfaction index
Australian investors generally have a high regard for their financial planners, according to new research by Adelaide-based niche funds manager, Lifeplan Funds Management.
The Lifeplan ICFS Financial Advice Satisfaction Index also found this regard increases significantly as the client/adviser relationship endures, and also with the age of the investor and the amount of funds available.
It found the three attributes that most drive this regard are trustworthiness of the planner, clients’ perception of how their investments have performed, and the technical abilities of the planner.
The University of Adelaide’s International Centre for Financial Services (ICFS) compiled the index, based on an academic study prepared by Dr Akbar Z Ali and Associate Professor Chris Medlin of the ICFS.
They interviewed 400 investors Australia-wide who were asked 54 questions about the investment advice they received from planners.
Lifeplan Funds Management general manager, strategic development, Matt Walsh described the index as an “invaluable insight into the hearts and minds of investors across the country”.
“The fact that clients generally hold their planners in higher regard the longer they’ve been with them, is a positive endorsement of the profession.”
He expects the index will prove to be a valuable tool for dealer groups, “especially with increasing competition and the desire to better segment and target clients”.
It is designed to assist planners maintain client relationships, and forge new relationships through improved awareness of what investors are seeking when engaging a financial expert.
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