The association’s "Value of Advice Index" paints a revealing picture—clients of financial advisers report double the satisfaction with their monetary circumstances compared to less advised individuals. An impressive two-thirds of advised clients rate their financial satisfaction highly, starkly contrasting with merely one-third of their non-advised counterparts.
Moreover, those under the consistent guidance of financial experts reportedly not only bolster their financial confidence but also reduce their stress significantly. On the other side, those opting out of financial advice often encounter unmet objectives, such as the inability to sustain their desired lifestyle, manage financial stress, and lack of a well-structured retirement plan.
As David Sharpe, chair of Financial Advice Association Australia, highlighted, there is a profound link between financial health and overall mental and physical well-being. “This connection is particularly evident when high living costs amplify personal financial pressures,” Sharpe noted. The Value of Advice Consumer Research elegantly articulates the role of quality financial advice in elevating life quality and alleviating stress.
Given today’s financial pressures—from grocery bills to mortgage payments—it’s no surprise that those who collaborate with financial advisers find themselves navigating these challenges with more ease and security. This shared journey not only cultivates financial resilience but empowers individuals to confront ongoing economic challenges with greater confidence.
Trust remains a cornerstone in the adviser-client relationship, with an overwhelming 94% of clients expressing confidence in advisers to prioritize their best interests. Furthermore, approximately 90% believe the returns on their advisory investments exceed the incurred costs.
This report draws from a comprehensive survey carried out during August and September, encapsulating responses from 1193 participants aged 25 and older, each possessing either an annual income exceeding $90,000 or investable assets upwards of $50,000. The findings capture a moment of financial introspection, urging many to consider the lasting benefits of professional financial advice as detailed by Sources such as the Financial Advice Association Australia.
