Sunsuper’s 2017 Value of Advice Report

Sunsuper has recently compiled this informative report investigating “the relationship between Aussies and financial advice”. Research snapshots and link to the full report below:

 

SNAPSHOT:

 

ACCESS THE FULL REPORT HERE

 

Foreword from Anne Fuchs, Sunsuper Head of Advice and Retail Distribution

It seems Australians have a problem with money.

Most people have dreams for their retirement but a lack of financial literacy could be to blame for the apparent gap between what many consumers believe they can achieve in retirement and what their actual financial situation will realistically be.

As well, we’re often brought up in Australia not to speak about money. We’ll happily talk to our friends and family about most things. But how much money we earn and want, and what we’re doing to protect and promote what we have, can be considered off the table when it comes to BBQ conversations, or even what we are willing to confide to our nearest and dearest.

As a result, while as financial professionals we know financial advice can make a marked difference to our clients’ financial and emotional wellbeing, many people end up too scared to reach out to a financial adviser for fear they don’t know enough, don’t have enough,
or might be told their dreams just aren’t achievable.

This can leave many people to suffer in silence, not knowing what to do or who to turn to for help. So how do we break down these barriers?

At Sunsuper, our sole purpose is to inspire and empower Australians to fulfil their retirement dreams. A key part of fulfilling our purpose is our commitment to promoting the value of great financial advice to our members.

This is why we recently commissioned CoreData to conduct research and modelling to help us better understand the quantifiable and qualitative value that financial advice can provide.

Apart from illustrating the tangible and non- financial benefits of financial advice in a meaningful way, we also wanted to present the outcomes to you for use within your practices, among your professional associations, and, importantly, in discussions with your clients.

In my mind, this research validates the value of the services we all provide to our clients
in helping them achieve their future goals and their retirement dreams. We hope this report is as useful for you as it has been for us at Sunsuper.

Anne Fuchs, Sunsuper Head of Advice and Retail Distribution

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