Indians are willing to pay for advice
The DSP BlackRock Investor Pulse study has some interesting findings on investors' attitude towards investing, their goals, and how they view financial advice.
By
Morningstar |
15-01-15
Use of Financial Advice
- When asked about the use of financial intermediaries (for advice/ transactions), 41% said that they are using such services. This is highest amongst all countries, second only to Hong Kong (42%).
- Of those who pay a service or transaction fee, 48% believe that the adviser provides good value, while another 40% believe that they provide excellent value.
- When asked about their satisfaction with the financial advice received, 55% were very satisfied (as against 42% globally).
- Reliance on financial advisers for investment decisions:
- For all investment decisions (39%)
- Most investment decisions (38%)
- Some investment decisions (19%)
- Do not rely on an investment adviser (3%)
- On the probability of using a financial adviser if they charged a nominal fee, 29% said they would definitely opt for it while 54% said most probably they would; 14% were against it and 3% were unsure.
- Main topics for discussion with financial advisers
- Seeking new investment ideas (45%)
- Minimising risk when investing (43%)
- Better management of cash (41%)
- Developing a retirement plan (39%)
- Protecting savings/investments against inflation (38%)
- Saving for child’s education (38%)
- Minimising tax liability (37%)
- How to deal with market volatility (34%)
- Managing asset allocation (34%)
- Select investments that provide an income stream (33%)
- Protect investments from unforeseen economic events (32%)
- Develop a comprehensive financial plan (31%)
Next: Overall sentiment
