Insights from Financial Advice Survey among Sorted.org.nz Users
Discover key findings from a financial advice survey conducted among users of Sorted.org.nz aged 18 and over in November 2015. The survey delves into topics such as the utilization of financial advisers, discussion topics, payment preferences, reasons for not using advisers, and potential future triggers for seeking professional financial advice.
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Presentation Transcript
Financial advice survey Survey of Sorted.org.nz users aged 18 and over November 2015
Have you ever used a financial adviser - this is a professional adviser at a bank or an independent financial adviser who you meet with face-to-face to talk about your specific finances 46% 54% Yes No Base n=1756 2
When did you last meet with them? Longer than a year ago 41% In the past year or so 18% In the past 6 months 16% In the past 2-3 months 15% In the past month 10% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Base n=943 3
Which of the following did you discuss with this financial adviser when you last met? General financial plans for the future 50% Investments 39% Mortgages 36% Insurance 28% KiwiSaver 27% Savings plans 22% 0% 10% 20% 30% 40% 50% 60% Base n=945 4
Did you pay for this advice? 26% 74% Yes No Base n=947 5
Why haven't you chosen to use a financial adviser? I manage my finances myself 44% I can't afford to pay for advice 30% I don't know how to find or choose a financial adviser 25% I would worry that they would try to sell me something 25% 24% I don't want to pay for advice 16% I am happy with my financial situation I just haven't thought about it 13% I don't have time right now 6% 3% Don't trust advisers 0% 10% 20% 30% 40% 50% Base n=802 6
What might prompt you to seek professional financial advice in the future? 56% If you receive an unexpected sum of money 33% To help prepare better for retirement 30% A significant event occurring for you or your family 22% If you needed to review or reduce your debt 20% If you want to make changes to your investments 15% If you needed to review or make a change to your mortgage 14% If you needed to sell a significant asset eg house 9% If you needed to review or make a change to your insurances 7% I wouldn't seek professional advice 5% I would seek advice for another reason 0% 10% 20% 30% 40% 50% 60% Base n=795 7
