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How can more Australians get the advice they need?

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19 June 2023 by Paul Feeney, Professional Planner

Article link: https://www.professionalplanner.com.au/2023/06/how-can-more-australians-get-the-advice-they-need/

How can more Australians get the advice they need? The answer is obvious — a scalable online solution is the only way to fill the advice gap.

With the inevitable decrease in recent adviser numbers, we know there’s not enough capacity to provide advice to more Australians. Even if there were enough advisers, will face-to-face advisers be able to deliver personal financial advice at a price point the majority of unadvised Australians would pay?

Adviser Ratings recently revealed that 63 per cent of Australians would be interested in advice at the right price of $500 or under which is well below the average cost of providing personal financial advice.

A self-directed personal advice service can provide much-needed help that is well below the $500 that Adviser Ratings research highlights.  But more importantly, it can be done in a way that puts the client at the centre.

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