In celebrating financial planning week, we are pleased to see the Financial Advice Association Australia (FAAA) confirm what we have known for many years – that advised Australians say they are better off than those who are unadvised!
This year’s 24th edition of Financial Planning Week runs from 7-13 October coinciding with World Financial Planning Day on Wednesday 9 October. Every year, the FAAA celebrates Financial Planning Week to remind Australians about the benefits of financial advice.
As part this year’s Financial Planning Week campaign, the FAAA has commissioned the third annual Value of Advice Consumer Research which recognises the benefits of using a financial adviser.
We are pleased to see that advised Australian recognise the positive impact that financial planning has across all areas of life, with clients reporting they are better off when it comes to:
- Quality of life
- Financial Confidence
- Satisfaction with their financial situation
- Experience with the financial planning process
In addition, the survey shows that advised Australians benefit over unadvised Australians in five key areas:
- Wellbeing and peace of mind
- Exposure to simplified financial matters
- Decision making
- Achieving lifestyle goals
- Saving time and effort
Interestingly, the findings also show the benefit of advice is consistently observed across generations, with Gen X and Millennials reporting higher satisfaction with their finances when advised compared to when unadvised. Baby boomers report the greatest satisfaction, unsurprising considering older age groups are more likely to report being happy with their life and finances.
Download the full Value of Advice Report and see how financial advice can help you achieve greater quality of life, financial confidence and satisfaction.
If you’re interested in taking the next step in achieving your financial goals then – never fear, Sherlock’s here!
