9 in 10 Queenslanders don?t have a relationship with a financial adviser

June 26, 2014
Tina Kidman

Is now the time to call Mortgage Choice Kallangur's Financial Advisor David Puxty to assist with your financial planning?

 

Almost nine in every 10 Queenslanders do not have a financial plan in place, new research has revealed.

 

According to Mortgage Choice’s 2014 Money Survey, 89.3% of Queenslanders said they “do not currently have a financial plan in place that was created by a financial planner”.

 

Of those who do not currently have a relationship with a financial adviser, 69.4% admitted that they have no intentions of “seeking financial advice” in 2014.

 

Local Mortgage Choice franchise owner/mortgage broker Michael Kidman said there were several reasons why the majority of Queenslanders do not wish to seek financial advice this year.

 

“Over 40% of Queenslanders said they did not wish to see a financial adviser because they are “comfortable handling their own finances”,” Mr Kidman said.

 

“On top of that, 18.2% of Queenslanders said they would not seek financial advice because they didn’t have enough assets, while a further 22.4% said they could not “justify the cost”, and 5.6% said it is something they will do “when they are older”.

 

Mr Kidman said these statistics suggest the majority of Queenslanders don’t understand the value of seeking financial advice.

 

“Many Queenslanders wrongly believe that they have to be middle-aged, asset rich, and be on a large income to warrant using a financial adviser, but this is simply not the case,” he said.

 

“The reality is a financial adviser will work with you at any age and any stage of your life and help you to create a plan that will allow you to not only achieve your financial goals but help you to live a rich life – the life you want to live.

 

“You don’t need to be a millionaire to warrant seeking financial advice. At Mortgage Choice, we believe all Australians, regardless of their income, age or assets, should have the opportunity to take control of their finances and plan for their financial future early on in their lives by accessing real, relevant and affordable advice.

 

“Further, we believe all Australians have the right to advice they can trust and understand from experts who will take the time to recommend appropriate choices for their needs, which is why we have transitioned the business to include financial planning services.”

 

Last week, Mortgage Choice announced it had appointed its 30th financial adviser and revealed its bullish plans for the future.

 

If you want to learn more about our financial advice offering, call Mortgage Choice Kallangur on 07 2482 2744 or David Puxty on 0430690461

Posted in: Financial planning

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