Essential Report

Trust in financial planners

Jul 15, 2014

Q. How much trust do you have in financial planners to give you independent and appropriate advice?

 

Total

 

Vote Labor

Vote Lib/Nat

Vote Greens

Vote Other

 

Received financial advice

Total lot/some trust

37%

38%

41%

34%

25%

63%

Total little/no trust

49%

44%

50%

51%

67%

35%

A lot of trust

8%

6%

14%

1%

3%

19%

Some trust

29%

32%

27%

33%

22%

44%

Little trust

29%

24%

31%

38%

34%

24%

No trust at all

20%

20%

19%

13%

33%

11%

Don’t know

15%

18%

10%

15%

8%

2%

37% say they have a lot or some trust in financial planners to give independent and appropriate advice and 49% have little or no trust.

Of those who have received financial advice or used a planner, 63% have a lot/some trust and 35% have little/no trust in financial planners.

For those on higher incomes (over $1,600pw), 40% have a lot/some trust and 51% little/no trust.

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