By the year’s end,American and global shares could account for a combined 70 per cent of younger investors’ portfolios.
I’m not saying there’s anything wrong with financial advisers,but many people aren’t at a stage where a financial adviser would be the best way forward.
Returns for funds in retirement phase are rarely shared,despite the fact they regularly outperform typical accumulation accounts.
There’s lots of talk about what the new changes this week will do for the industry,but here’s what it really means for everyday Australians.
Artificial intelligence and super funds will have to play a bigger role as there are not enough financial planners graduating from universities.
Digital advice and super funds are likely to be the source of financial advice for many,as the cost of face-to-face advice rises.
Most people have increased their wealth since the start of the pandemic,but the poorest 10 per cent,dominated by renters,have fallen further behind.
Financial professionals with almost 100 years of experience between them reflect on what they had wished they had known when starting out.
Super funds will be allowed to give more financial advice to members,while banks have been left out under the Albanese government’s response to the Quality of Advice review.
There are now only two countries,Monaco and Switzerland,where it takes more wealth to be considered part of the 1 per cent.
Robo-advice is moving beyond basic advice,but human advisers are not about to become obsolete.