Opinion of financial advice

Jul 15, 2014

Q. Overall, did you receive good or bad advice? 

 

Total

 

Income less than $600pw

Income $600-1,000pw

Income $1,00-1,600pw

Income $1,600+

pw

 

Aged 18-34

Aged 35-54

Aged 55+

Total good

65%

58%

61%

79%

57%

 

74%

64%

62%

Total bad

10%

21%

13%

3%

9%

 

6%

9%

13%

Very good

17%

11%

34%

16%

11%

12%

11%

26%

Good

48%

47%

27%

63%

46%

62%

53%

36%

Neither good nor bad

25%

21%

24%

17%

33%

17%

27%

24%

Bad

6%

8%

11%

2%

5%

4%

5%

7%

Very bad

4%

13%

2%

1%

4%

2%

4%

6%

Don’t know

1%

2%

1%

1%

2%

1%

65% of those who have received financial advice say it was good advice and 10% say they received bad advice.

Those most likely to think they received bad advice were aged 55+ (13%) and incomes under $600pw (21%)

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