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Most Australians still uninterested in advice

How do we learn what we don’t know that we don’t know?  We take advice!  How do we know we have good advice? The experience of the advisor, their professional qualifications, and their professional indemnity insurance.

This article shows that the advice sector is really struggling to inform their audience about what advice delivers.  It is hard to promote what people don’t realise they need!  The messages fall on deaf ears.

Property investment advice is currently unregulated however there are some great operators out there providing good advice and risk mitigation for property investors.

Your property investment advisor needs to assist you to create a tailored plan that guides your investment for results, risk, and your personal circumstances.

It protects you from the boom and bust of mining towns where median prices are half or a quarter of what they were in the boom.  It presents robust economic information in population centres over 100,000 people

It supports you getting into above average capital growth areas so your property value increases initially and over the years.

It doesn’t talk about cups of coffee, bottles of water or lunches you go without to pay for property. It talks about costs to hold, savings capacity and contingency funding for unexpected life events.

It isn’t about selecting based on what you like, or following the pack with emotionally led real estate terms like hot spots. It is about the facts and figures for the area and what this due diligence is telling you about the opportunity.

It starts with the exit or your goal.

It models how you might achieve that and establishes the plan.

It optimises the plan for your next step

It works back through the holding profile to make this robust.  If you can’t hold on then you can’t realise the benefits.

Lastly it looks at property:  the where to buy, the when to buy and the what to buy.  Property is the building block and shouldn’t lead the conversation unless you are self directed.

“…survey of over 10,000 Australian adults, revealed about 80% did not use a financial planner and were uninterested in engaging one.

Of those that did not use a financial planner, 86% had concerns about their finances and 36% said they had unmet advice needs.”

http://www.financialobserver.com.au/articles/most-australians-still-uninterested-in-advice

The research house’s “Direct Client Report”, based on a survey of over 10,000 Australian adults, revealed about 80 per cent did not use a financial planner, and were uninterested in engaging one, compared to around 13 per cent who used a financial planner and 7 per cent who did not currently use an adviser but planned to engage one within the next 12 months. Of those who did not use an adviser, 86 per cent had concerns about their finances, while 36 per cent said they had unmet advice needs, indicating a potential knowledge gap when it came to the value of financial planning in addressing those issues. –

See more at: http://www.financialobserver.com.au/articles/most-australians-still-uninterested-in-advice#sthash.2K2rMH3u.dpuf

The research house’s “Direct Client Report”, based on a survey of over 10,000 Australian adults, revealed about 80 per cent did not use a financial planner, and were uninterested in engaging one, compared to around 13 per cent who used a financial planner and 7 per cent who did not currently use an adviser but planned to engage one within the next 12 months. Of those who did not use an adviser, 86 per cent had concerns about their finances, while 36 per cent said they had unmet advice needs, indicating a potential knowledge gap when it came to the value of financial planning in addressing those issues. –

See more at: http://www.financialobserver.com.au/articles/most-australians-still-uninterested-in-advice#sthash.2K2rMH3u.dpuf

The research house’s “Direct Client Report”, based on a survey of over 10,000 Australian adults, revealed about 80 per cent did not use a financial planner, and were uninterested in engaging one, compared to around 13 per cent who used a financial planner and 7 per cent who did not currently use an adviser but planned to engage one within the next 12 months. Of those who did not use an adviser, 86 per cent had concerns about their finances, while 36 per cent said they had unmet advice needs, indicating a potential knowledge gap when it came to the value of financial planning in addressing those issues. –

See more at: http://www.financialobserver.com.au/articles/most-australians-still-uninterested-in-advice#sthash.2K2rMH3u.dpuf